The GBP/JPY is retesting the 183.00 handle after failing to recapture the 183.50 level in Tuesday trading. The Pound Sterling (GBP) is trading softly
Investors appear unwilling to dedicate to a direction as the BoE comes in for a landing.The GBP/JPY is retesting the 183.00 handle after failing to recapture the 183.50 level in Tuesday trading.
The Pound Sterling is trading softly in Tuesday markets, lacking momentum as investors largely sit on the sidelines ahead of this week’s central bank showings.Late Tuesday will see trade balance figures for Japan, due at 23:50 GMT. Exports and imports are both expected to decline, -1.7% and -19.4% respectively, and the overall Merchandise Trade Balance is forecast to decline ¥-659.1B. headline for the month of August forecast to tick upwards to 0.7% from the previous month’s 0.4% decline.
The inflation read will serve as a precursor to the Bank of England’s showing on Thursday, which is expected to raise rates to 5.5%, a 25-basis-point increase from 5.25%. Inflation continues to plague the UK even as the British economy continues to wobble, and investors will be keeping a close eye on both inflation figures and the BoE’s Monetary Policy Summary.Friday to close out the week with BoJ, UK retail figures
Friday brings the Bank of Japan’s own interest rate showing, which is broadly expected to maintain their -0.1% negative rate stance. Recent comments from BoJ officials teasing about the possible end of the negative rate regime pushed investors into the bullish camp, but the positioning may have been premature.
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