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20 Feb 2013
Forex: GBP/JPY dives to 143.00 handle on BoE
The British Pound is plunging against its counterparts, sending the GBP/JPY to lower levels as well. The release of the BoE meeting minutes triggered a move below the 144.00 handle for a test of the 143.00 mark in a matter of 20 minutes.
In the last MPC meeting, Governor King, Fisher and Miles were in favor of an increase of £ 25B in QE. UK labor data shows a higher ILO unemployment rate from 7.7% to 7.8%. However, there were 12.5K less claimants in January, instead of -5K as expected, pushing the rate lower from 4.8% to 4.7%.
The JPY is also trading somewhat stronger today, as the currency consolidates recent gains. Japan's All Industry Index rose +1.8% in December (MoM), beating +1.6% consensus.
Mataf.net analysts point to resistances at 144.24, 144.70 and 145.85. On the downside, supports might be found at 143.10 and 142.75.
In the last MPC meeting, Governor King, Fisher and Miles were in favor of an increase of £ 25B in QE. UK labor data shows a higher ILO unemployment rate from 7.7% to 7.8%. However, there were 12.5K less claimants in January, instead of -5K as expected, pushing the rate lower from 4.8% to 4.7%.
The JPY is also trading somewhat stronger today, as the currency consolidates recent gains. Japan's All Industry Index rose +1.8% in December (MoM), beating +1.6% consensus.
Mataf.net analysts point to resistances at 144.24, 144.70 and 145.85. On the downside, supports might be found at 143.10 and 142.75.