FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman said Sterling has been hit by a wave of profit-taking by the shifting sands of the BOE signals.
"The recent Quarterly Inflation Report suggested a dovish stance. Then at the Mansion House, Carney warned that a rate hike could come earlier than the market had expected."
"Today, before the Treasury Select Committee, the signal is somewhere in between the two earlier statements. Given the more recent hawkish signals, investors have been whipsawed."