Cable drops to two-week low on Carney's remarks

Thursday, 09. January 2020 13:02

The pound slid to a two-week low on Thursday following Bank of England Governor Mark Carney's remarks on the British economy. Carney asserted that the economic growth in the UK "has slowed below potential," adding that "the bar for change to inflation targeting regime is very high."

Meanwhile, European Union's chief Brexit negotiator Michel Barnier said that the deadline for the divorce between the UK and the bloc is "hugely challenging." On the other hand, Downing Street expressed readiness to engage in trade negotiations with the EU as soon as the country leaves the bloc on January 31.

The pound lost 0.64% against the dollar, trading for 1.30136 at 1:01 pm CET while the euro gained 0.57% at the same time to go for £0.85319.

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Breaking the News / GA