Pound rallies on Mark Carney’s hawkish comments

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The pound rallied against the US dollar and euro on Wednesday as Mark Carney made hawkish comments to the European Central Bank in Portugal.

Carney suggested the monetary policy committee would continue to balance rising inflation against supporting jobs and growth.

The pound gained 1.61 cents to reach $1.2938, The Telegraph reports.

Carney said the global recovery had started to become “broad based” and against this “mixed signals” on consumer spending would start to diminish if UK investment picks.