The yen continued the correction, which was started on Tuesday after the unsuccessful attempt to break through the technically significant level of 111.80. The pair enters the support zone of 111.00-110.70, which can delay further downward movement. Fundamentally, the yen has no reasons for growth. Today Bank of Japan Deputy Governor Kikuo Iwata made it clear that the regulator will keeps monetary stimulus unchanged in the near future.
Yesterday Andrew Haldane helped the pound to back to the area above 1.2600. He promised to increase rates in 2018. However, Forex traders react too much to everything. Now the pair is consolidating near the level of 1.2669 in anticipation of publication of Industrial Trends Survey by the Confederation of British Industry (CBI) and speech by Christina Forbes in London.
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