Pound Leads After GDP Boost

Morning Report: 8.30 London

• This morning, financial markets still maintain a positive bias despite a pause around the highs this morning. The dollar index is maintaining a similar path and is within a day’s session of hitting multi year highs.
                                                                                                                                       

                              

                               

• Elsewhere, the British pound is leading other pairs after GDP estimates came in at +0.7% yesterday.

                              

                               

• The yen pairs are generally pushing higher, with the USD/JPY heading back towards the 121.00 level.

                               
 
• Elsewhere, the Australian dollar continues to suffer despite strong home loans data this morning.

                               

 Coming up today:

• Coming up today we have the Eurogroup meetings running in the background throughout the day, with Greece a key focus.

• Elsewhere, we have US crude oil inventories at 15.30 and 10 y bond auction at 18.01.

Trade Idea:

• The USD/JPY looks to be regaining it’s upwards bias, with the dollar index back up towards the highs.

A good way to play this is a HIGHER trade predicting that the USD/JPY will close above 120.00 in 7 days time for a potential return of 113%

                               

                                                     
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Summary: