Pound continues to fall despite Mark Carney's speech

 
Billy Ehrenberg
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At first the pound rose slightly, but a gentle fall has since resumed (Source: Getty)

After falling almost 1.4 per cent yesterday, the pound continued to slide today despite Mark Carney indicating there would be no interest rate hike this year.

Speaking to the Trade Union's congress, Carney said there was still slack in the labour market and that he saw an interest rate rise as coming next spring, rather than this year.

At first the pound rose slightly, but a gentle fall has since resumed.

Today's fall isn't huge - around 0.04 per cent at the time of writing - but it is scuppering hopes that the sterling could rise against the dollar for the first time since 1 September.

It is unlikely the pound has finished oscillating, with the twists and turns of the Scottish independence drama expected to continue affecting the exchange rate.

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