GBP may have left the protective nest of the EUR
The GBP has shown that it may have left the protective nest of the EUR now that the BoE is officially not paying the same amount of heed to its inflation mandate as the ECB. The Sterling has remained in the stronger parts of its range against the USD, but it has not gained with significant force against the Greenback, this in stark contrast to the results that the EUR has seen against the USD. Employment data will come from the U.K. today, but the crux of the matter will be sentiment that exists surrounding the outlook of the BoE and how it will battle lagging growth and challenging inflation should it continue. The GBP presents an interesting opportunity for those who believe that it may face some downside pressure. The JPY consolidated on Tuesday after gaining early in the day after the rather troubling radiation news from the government. Asian markets are still transfixed on the Japanese crisis and traders must be ready for sudden bursts of volatility. The Japanese government issued a downgrade for their economic outlook earlier today as concerns continue to mount about the hurdles Japan will face. The AUD has come off of its highs, but has found some stability. AUD traders will anxiously watch the price of Gold also today. The precious metal is trading at 1458.00 USD as of this writing. Forex