While this week’s U.S. data doesn’t have a massive direct influence on GBP/JPY, the pair is still a good barometer of risk sentiment in the market and should react to changes in traders’ risk appetite. GBP/JPY has clearly taken a turn for the worse over the last few weeks.
The comments by various Federal Reserve area officials at Jackson Hole Wyoming over the weekend left us more confused than before as both sides of the rate possibilities for September permeated the airwaves.
Amidst the rollercoaster ride that unexpectedly seized most global markets over the last few days, trade in British pound/U.S. dollar currency pair has remained relatively sanguine. The cable rallied “just” 80 pips on Monday, while the dollar lost far more value against the euro and yen, before reversing that move on Tuesday to trade back at the 1.5700 level.
Nasdaq is poised to launch a platform for foreign exchange trading which it says would make the $5 trillion-a-day global market more transparent and would diversify its own business, a top executive from the stock market operator said.