Bank of England’s David Miles, in an interview with the Belfast Telegraph, having been asked about sterling has answered “Is it easy to predict where it will go next?, absolutely not” adding “Is it easy to affect through policy? Definitely not.”
Interesting. But one thing which can affect the currency is a few carefully chosen words at the right time. Personally think the Bank of England have done a splendid job of manipulating the currency lower. No wonder German Finance Minister Steinbrueck has the raging hump.