Forex Flash: GBP/JPY still in uptrend - JPMorgan

Despite the fall off 147.00 highs in mid February, "GBP/JPY remains in a well established uptrend as long as key-Fib.-support between 139.47 and 137.61/136.84 (int. 38.2 % on 3 scales) and pivotal support at 133.49 is defended" the JP Morgan currency strategist Paul Meggyesi notes.

Mar 7, 2013

Forex Flass: BoE will 'probably' do nothing – Societe Generale

“The UK’s MPC will ‘probably’ do nothing to either policy rates or the extent of gilt buying,” says SG analyst Kit Juckes, referring to upcoming BoE meeting at 12:00 GMT today. “If they do anything, it will be increase gilt purchases by by a further GBP 25bn. There will be no press conference, so it’s a bit binary,” adds Kit.

Forex: EUR/USD capped by 1.30 ahead of ECB

EUR/USD broke today in early Asia-Pacific to fresh 2013 lows, marginally below those printed by March 1st, around the 1.2963 level. It found some bids there, known previous support from the March-April 2012 period, then helped some hours after with the S&P release of Portugal sovereign credit outlook change from negative to stable, the agency said. This worked as catalyst for breaking above Monday's lows in the 1.2980 area, that was already working as resistance.