GBP/USD: Brexit And Pay Growth Are The Key Takeaway’s From Carney’s Speech

Bank of England Governor Mark Carney has delivered another dovish warning over a Brexit no-deal, during his scheduled speech in Dublin, Ireland today. The GBP/USD pair has pushed back towards the best levels of the day, as traders look past the dovish Brexit rhetoric as Carney earlier said that recent data suggest faster pay growth in the United Kingdom.

Governor Carney also said that Brexit uncertainty had been holding back UK wage growth and the Bank of England are preparing a number of measures in case the UK and EU part way’s without a deal in place.

In another bleak statement over the impacts of a Brexit no-deal, Governor Carney said the Bank of England would make the appropriate monetary policy response to Brexit, and the response would not be automatic and will depend on the balance of the effects on demand, supply, and the exchange rate.

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