- “Demand from the U.K.’s traditional markets such as Europe is a staggering 25 percent below a continuation of its pre-crisis trend,” says Bank of England Governor Mark Carney, also suggesting interest-rate hikes - when they do begin - will be more gradual than typical thanks to the challenges still facing the recovery.
- Also mentioned in the speech as an impediment is the strong pound, and his words sent sterling lower by about 60 pips, now off 0.15% on the session at $1.7037.
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