Forex

Sterling stabilizes on Carney's remarks

2019-09-10 21:07:20 GMT (Economies.com)

British pound stabilized against US dollar today, after BoE President Mark Carney's comments and strong data.

 

Carney said the UK banking and financial system is prepared for the impacts of a no-deal Brexit.

 

Carney added that the central banks around the world have enough tools to face any possible slowdown or recession.

 

He also stated that the inversion of the UK and the US yield curve is not a reliable sign alone to indicate a near recession.

 

Otherwise, the British services index rose by 4% last month, while the jobless claims held at 28.2K better than forecasts of 29.3K, and the unemployment rate fell to 3.8% lower than forecasts of 3.9%.

 

By 19:58 GMT, GBP/USD stabilized at 1.2348, with a high of 1.2375 and a low of 1.2306.

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