Analysts viewed Trump's Fed pick as a non-controversial choice unlikely to radically change the gradual tightening monetary policies that stock markets like. Powell has echoed the Trump administration's views on bank deregulation, but also supported outgoing Fed chief Janet Yellen's very gradual interest rate increases. "A dovish rate hike from the Bank of England on Thursday has triggered a sell-off in the pound while yields on UK debt have also fallen," said Craig Erlam at OANDA. "The impression that the MPC has given is this is a 'one and done' rate hike," Erlam said. "We think that UK monetary policy will provide some renewed support to sterling before long."

Source: The Nation Bangkok November 02, 2017 21:45 UTC