GBP/JPY carving out a bottom?
This morning saw European equity indices fall sharply with the DAX hitting a new multi-month low, before bouncing back noticeably. Risk assets were once again hit amid rising trade tensions. This followed reports that China is asking the Wold Trade Organisation (WTO) to authorise trade sanctions on the US. In FX, the GBP/USD dumped below 1.3000 in what looked like a mini flash crash. Bizarrely, this came just after the release of solid-looking UK wages data. According to the ONS, average earnings excluding bonuses rose 2.9% in three months to July on a year-over-year basis. This beat expectations for 2.8% and last monthís print of 2.7% last. ... (full story)
- Posted: Sep 11, 2018 1:32pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 1,482