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As is often the case with central bank meetings in the era of communication-as-a-policy-tool, the Bank of England’s “decision” (read: no change) on interest rates was already telegraphed well in advance. But for the always forward-looking markets, there was still plenty to digest from this morning’s BOE statement.

SD strength remains intact with USD/JPY undergoing a new potential upleg.

Markets have calmed down since yesterday’s big risk asset selloff, but that doesn’t mean that there’s nothing exciting on the horizon for traders.

Further USD strength while USD/JPY is shaping a potential residual push down within is minor pull-back phase.

Yesterday, we noted that FIFA trumped Forex in terms of excitement, but today’s been all about the markets. As my colleague Ken Odeluga noted in his prescient post yesterday morning, trade issues are front and center for investors in this week’s trade.

USD strength resumes except in USD/JPY.

FIFA has trumped forex so far in trade this week, with the major currencies consolidating in relatively tight ranges against one another.

The week has inevitably kicked off on the wrong foot as deteriorating trade relations between the U.S. and just about every large economy in the world depress appetite for risk.

Recent USD strength at risk of a minor pull-back while sideways for USD/JPY.

Well, it’s official: The Trump administration has slapped a 25% tariff on 818 Chinese goods, with a total value of up to $50B.

This week has all been about major central bank meetings and as we had anticipated last week, it was indeed the European Central Bank which caused the most market impact with its decision.

The EUR/GBP could be on the verge of a breakdown after the European Central Bank’s policy decision on Thursday.