October 9 2013

In the trading room today: GBP Outlook ahead of the BoE Meeting. In preparation for tomorrow’s meeting of the Bank of England, we examine the latest economic data from the United Kingdom and explore how the monetary policy of the U.K. central bank will continue to dictate the direction of the GBP against the USD and other currency majors, we analyze the price correction in the USD/JPY currency pair, we monitor the pullback in the EUR/USD pair, we note the strengthening of the USD vs JPY, we highlight the market’s reaction to the nomination of Janet Yellen as the new Fed Chairman, the U.K. and the German Industrial Production, we discuss new forecasts from Bank of Tokyo-Mitsubishi and Barclays, and prepare for the trading session ahead.