The Great Britain pound ended Friday with losses as UK policy makers demonstrated willingness to postpone an interest rate hike until economic recovery becomes resilient.
Spencer Dale, Executive Director and chief economist of the Bank of England, said:
We will tighten policy only when we are well along the road to recovery. Yes: interest rates will rise at some point. But only against a far stronger economic backdrop.
Earlier this week, BoE Governor Mark Carney explained that he does not want to raise interest rates prematurely. The pound fell on the comments, but some specialists are not worried by the drop, saying that good macroeconomic environment in the United Kingdom should support the currency from falling much further.
GBP/USD slid from 1.6349 to the closing price of 1.6295 and GBP/JPY dropped from 168.99 to 168.20. EUR/GBP advanced from the opening of 0.8409 to close at 0.8428.
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