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Why the pound could fall thanks to Carney
Look at the data on the UK economy and it looks as though Britain's turned a corner. That's been reflected in sterling's strength. But the gains could be capped ahead of Wednesday's Bank of England inflation report.
Saxo Bank's Head of FX Strategy, John Hardy, tells Saxo TV's Sara Walker the BoE is going to be giving more guidance on future policy. He also says the new governor, Mark Carney, may lay out new thresholds, in a similar move to the US Federal Reserve.
John believes the forward guidance we get could be bearish for the pound. When compared with the US, the deficit problem in the UK is much larger as a percentage of the economy. John's looking for a sterling target of around $1.55 before it heads to $1.50 and lower.
01:35 minutes
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