August 12 2014

In the trading room today: Will the BOE Halt the GBP Correction vs USD? In light of tomorrow’s Bank of England inflation report, we take a close look at the GBP and ponder if the U.K. central bank’s economic projections could serve as a catalyst for a resumption of the pound sterling’s bullish trend against the USD, we analyze the latest trend developments in the GBP/USD currency pair, we continue to monitor the weakness of the EUR vs USD, we note the resilience of the USD vs JPY, we highlight the market’s reaction to the Euro-zone ZEW Economic Sentiment Index and the Japanese Industrial Production, we discuss new forecasts from Citigroup and Canadian Imperial Bank, and prepare for the trading session ahead.