Video: GBPUSD Recieves a Jump; Will USDJPY, EURUSD, EURCHF?
• The BoE's Quarterly Inflation report proves a strong catalyst for the Sterling
• International and domestic fundamental pressure is building to extend the Euro's decline
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The Sterling lived up to top market-mover expectations on the Bank of England's Quarterly Inflation Report. A warning by Governor Mark Carney of a slower return to target inflation further pushed expectations for the first rate hike out to the second half of 2015. The impact was felt across the Pound crosses, but the scale of impact - and the scope for follow through - was determined by its particular counterpart. Meanwhile, the underlying fundamental scales behind the Dollar, Euro, Yen and Swiss Franc are drawing greater and greater market potential. So, while these currencies are not feeding a rush of short-term volatility, medium-term trend opportunity is ready for the right spark. We look at the market's current movers and its highest potential players in today's Trading Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.