Why did GBP Rise on Carney's Guidance?

by Ashraf Laidi

Aug 7, 2013 13:36

The Bank of England has finally introduced a 7% unemployment threshold as part of its forward guidance, implying that monetary policy will not be tightened unless the ILO measure of unemployment nears 7% from its current level of 7.8%. So why did GBP rally on the news and Carney's testimony? Full chart & analysis

Click To Enlarge

Latest IMTs

• Missing the Silver Target
  by Ashraf Laidi | Apr 23, 2026 9:46
• Hedging your Margined Account
  by Ashraf Laidi | Apr 21, 2026 15:35
• From Fibonacci Land
  by Ashraf Laidi | Apr 20, 2026 18:40
• 3 Numbers of Oil & JPY
  by Ashraf Laidi | Apr 17, 2026 13:37
• Market Got the Message
  by Ashraf Laidi | Apr 15, 2026 9:46