Pound Slips Back After FSB

Morning Report: 08.45 London

• Financial markets are on the back foot this morning with the dollar index also continuing it’s downturn.
 

• The yen pairs are seeing the biggest movements on currency markets, with the USD/JPY off 0.30%. This comes after the Bank of Japan revealed that recent inflation increases can be almost entirely attributed to the increase in consumption tax.


• The pound is backing off again, with the GBP/JPY off 0.28%, helped by the strengthening yen. UK interest rate speculation continues to oscillate around every Carney announcement.


                               

• Gold is holding at the highs as the Iraqi government falls fails to make significant inroads against ISIS.

• Finally, the Australian dollar is bucking the generally dour mood in today’s early trading.

                               
                             
Coming up today:

• Today we have UK current account data at 09.30, released alongside final GDP figures which are expected to maintain an increase of 0.8%.

• From 14.55 we have revised UoM consumer sentiment from the US.

Trade Idea:

• The USD/JPY continues to slip lower, while the dollar index downtrend slowly gains some momentum. When this pair sets a trend in running, it can take some beating so we could see some further downside from here.

                               

A good way to play this is a LOWER trade predicting that the USD/JPY will close below 101.25 in 7 days time could return 128% if successful.

This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice. 

Summary: