Sterling Digest: March 8, 2012

• Posted by faithmight
• on March 8th, 2012

With 4 central banks making statements in the past 24 hours, I’d say it’s been a tame session. It’s amazing (to the point of amusement) how much the market pauses and takes a step back for US NFP. Big guns are positioning. If you were around since Asia, you saw $GBPUSD quietly rally to open London at 1.5750. She now sits at 1.5820. You do the math. So the BoE did what was expected. And the market reacted as expected. Weird. And tomorrow is Friday. Trader be aware.

• Bernanke Seen Accepting Faster Inflation as Fed Seeks to Boost Employment (Bloomberg)
• Bank of England, ECB Drop Easing Bias…for now (eToro)
• The Dollar Tanks on WSJ’s Fed Story (Crossing Wall Street)
• Mark Carney hints at higher rates (The Globe and Mail)
• OCR unchanged at 2.5 percent (Reserve Bank of New Zealand)
• Brazil surprises with 75bp cut (FT beyondbrics) [Interesting given yesterday's headline.]
• EUR/GBP daily chart; elliott wave structure (Chart.ly)
• GBP/CHF Respects Channel Resistance; Swing Projection Eyes 1.4080 (fxtimes)

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