Dollar drops across the board as risk appetite picks up from where NY left off, shrugging the sell-off in Japanese shares. GBP is the amid the least gainers against USD after the minutes of the BoE revealed a 3-way split, with 7 members voting for a QE rise of $25 bln, one member voted for no raise (Dale) and one member voted for an increase of 40 bln. GBPUSD may not succeed in breaking the $1.6880s, while EURGBP faces a 1-week trend line resistance at 0.8910, with stochastics illustrating a possible 0.8930. GBPJPY enters a tight consolidation zone, which could signal a significant breakout. stochastics biased to downside. USDCAD expected to hold above 1.0460 support ahead of CAN Oct CPI (12:00 GMT) exp 1.7% y/y from 1.5%, core CPI exp 0.0% from 0.3%. CAD is propped by oils constant probing of the $80 level. CAD EIA inventory data will also be key for CAD. US CPI and housing permits/starts due at 13:30.
Join the Discussion