The Bank of England will release its Monetary Policy Summary today. Germany and France are on holiday. The Yen, Pound and Euro remain weak versus the U.S Dollar.
EUR/USD: Tight Trading Session for Euro
The Euro turned in a tight trading session on Wednesday and remains near 1.1860 against the U.S Dollar. The European currency is near long term lows, and economic data from the E.U was poor yesterday. Many European countries will be on holiday today, which means trading volumes will be lower than normal.
USD/JPY: Yen Stays Weak as Risk Appetite Grows
The Yen is trading below the 110.00 level against the U.S Dollar and is still showing signs of weakness. The Nikkei Index is putting in gains this morning as risk appetite has shown some teeth in Asia. The Yen is near long term resistance, but traders may continue to look for more weakness.
GBP/USD: Bank of England Not Expected to Change Policy
The Pound remains within its weakened stance versus the U.S Dollar as it trades near 1.3570. The Bank of England will release its Monetary Policy Summary today, but no major changes are expected because of the rather lackluster data from the U.K the past two months. Manufacturing Production data will also come from Britain this morning.