It goes from bad to worse for the pound
Things have gone from bad to worse for the pound. After being knocked by a poor construction PMI earlier in the day, sterling slumped to hit a new session low moments ago in reaction to a speech by Bank of England Governor Mark Carney.
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JPY remains the trade of 2013, making a fresh high of 99.67. It is now within a whisker of the psychological level of 100 and the 2009 high of 101.45. Demand for EUR/JPY gave the single currency a boost, triggering stops above 1.3050 and making a high of 1.3069.
In other news AUD remained range-bound, trading within the 1.0400-50 range despite two negative data releases. The NAB business conditions index was deemed weaker than expected, along with a lower Chinese CPI release at 2.1% below the 2.5% consensus. All eyes are now on growth and activity data scheduled to be released on Monday.
Sterling traded lower in late US trading, falling from 1.5320 to 1.5240 as the markets eye data releases today in the form of industrial production, trade balance and housing data.
EUR/USD
Supports 1.2970-1.2900-1.2750 | Resistance 1.3080-1.3140-1.3200
USD/JPY
Supports 98.800-97.50-95.80 | Resistance 99.70-100.00-101.45
GBP/USD
Supports 1.5220-1.5180-1.5050 | Resistance 1.5320-1.5380-1.5450
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