Pound rises after Carney comments, dollar remains firm

The British pound found some support after BOE Governor Mark Carney said the point at which interest rates need to rise has moved closer.

The Economy is moving closer to rate rise, Carney said.

Carney told MPs that Scotland would need £15bn of reserves as an independent country.

The GBPUSD rose from a 10-month low of 1.6051 to hit a high of 1.6167, while it is currently trading around 1.6152.

However, the dollar index, which tracks the green currency’s movements versus a basket of major currencies, remained firm taking advantage of the drop in yen, euro and franc.

The dollar index is currently hovering around 84.26 after setting a high of 84.40.

While the U.S. lacks fundamentals today, eyed will focus on retail sales for August and jobless claims for the previous week, amid expectations he Fed may raise interest rates sooner than predicted.

The USDJPY rose for a third straight session to trade around 106.64, yet gains were capped by resistance at 106.83.