British Pound Rallies on Bank of England Minutes, Euro Pares Advance
The British Pound surged to a high of 1.5669 during the European session as the Bank of England dropped it dovish outlook for inflation, and the exchange rate may continue to trend higher going into the U.S. trade as price action bounces back from the 200-Day SMA at 1.5498.
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NZ Q2 PPI inputs +1.4% QoQ, PPI outputs +1.1% QoQ
Both are higher than the forecasted estimates of around 0.7%. The NZD/USD is unchanged at .7135. AUD/NZD made a sharp move lower overnight of almost 200 pips as longs booked profits ahead of the upcoming risk events in Australia.
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Swiss Vandal’s Singapore Jail Term Extended to Seven Months
Swiss executive Oliver Fricker must spend an additional two months in jail for spray-painting a commuter train, a Singapore judge ruled today, extending the original five-month sentence to seven months. Frick’s appeal of the original sentence was dismissed.
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Tags: Advance, Bank, British, England, Euro, Minutes, Pares, Pound, Rallies
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