Ready to Get Started?
Start here. Join over 3M Libertex users around the world!
GBP/JPY on the rebound so far this morning
Over the past few days your attention was drawn to a leading analyst call, for the GBP/JPY to drop to 180. Well, earlier today the Pound took a step closer towards that target. The GBP/JPY fell further and set a new interim low at 187.65. The Pound had closed in the US last night at 188.29. The further fall today now sees the GBP/JPY drop by nearly 500 points since it was first flagged up here. However, it has now rebounded and that recovery has seen it reach a high so far at 188.87. It remains to be seen, if this rebound can extend further. For the most part all the price action seen so far today and yesterday too for that matter, was mostly due to the USD/JPY. The combination of the prospect of lower UK interest rates and the opposite now in Japan is the driver behind this partial unwinding, of what has been a long-standing and profitable GBP/JPY carry trade. The Pound is right now at 188.85
Market News
All News-
Nasdaq 100 sets a new record ahead of Netflix results this evening
It has been a positive session so far for all the US equity markets this afternoon and all three major indexes are in the green leading into the 4pm...
-
S+P 500 edges slightly higher in early trading
The US stock markets have just reopened. Ahead of this all three major index futures were clearly buoyed by the US data releases this afternoon...
-
Surprisingly the EUR/USD rebounds from fresh interim low at 1.1557
As noted not long ago, the immediate reaction in the EUR/USD to the much better than expected US data releases this afternoon saw it fall below the...
