Sterling manages to stage a decent correction in today’s trading session. Yet, it is the AUD taking it on the chin today as it suffers from a double whammy of commodities weakness and USD strength. It was the only currency pair that sterling rallied higher against without much pullback. The timing with now confirmed Chinese softness (causing the commodities weakness) gives the $GBPAUD legs to run higher.
- GBP/JPY: All Aboard (FX360)
- We have gotten to a level where GBPJPY is getting serious… (Chart.ly)
- GBPUSD 4 HR Ichimoku (Twitpic)
- GBP/USD Approaching Support Cluster Around 1.5850 (fxtimes)
- Japanese Yen Displaying Weakness – A Look a USD/JPY, EUR/JPY and GBP/JPY (fxtimes)
- Talks under way to release oil reserves (FT) [France has joined US and UK. US asking Japan too.]
- British firm finds oil in Kenya (The Telegraph)