The pound continues to benefit from a weak dollar this morning, and is also up against the euro.
Sterling continued to rise against the dollar yesterday, benefitting from the greenback’s weakness. Federal Reserve Chairman Jerome Powell’s dovish speech, which suggested that a rate cut is likely, caused the dollar to slip.
The pound also strengthened slightly due to comments from Mark Carney who, despite saying that a no-deal Brexit posed “material risks of economic disruption”, also ensured that UK banks can withstand the UK crashing out of the EU without a deal.
Gertjan Vlieghe, a Bank of England monetary policy committee member, is due to speak this morning. Any dovish comments could have an effect on the pound.
