FRX: Pound and Yen hold the key to today's Trading
The Pound seen the greatest amount of volatility coming behind the BOE minutes. Despite the fact that the BOE minutes came nothing short of predictable, with merely Andrew Sentence dissenting, the Pound gained strength. The reason to the rally was a more hawkish stance by the Committee than previously. The Committee taking a break from its previous stance which denied any possibility of inflationary pressures grew wearier of possible escalation in prices. The following came as a god send to Cable longs which were petrified of a more dovish stance. The future of the Pound lies in the hands of upcoming Retail Sales. Tomorrow’s projections call for Retail Sales to print at 0.4%. If the Retail... Full Story
