And right here we go but once more.
Sterling is as soon as once more taking a knock, falling by a most of 1 per cent on the day to succeed in a low of $1.2112 towards the greenback.
The drop lacks an apparent set off, however nerves look like constructing within the run-as much as a scheduled look by Financial institution of England governor Mark Carney to a Home of Lords committee at 15:35 London time. (Right here’s a hyperlink to the web feed on that.)
As Package Juckes at SocGen put it:
When sterling goes down, individuals don’t search for a cause, they only promote it additional. There are not any pure consumers on any dip.