UK GDP

Sterling: UK Budget Derails Bounce On Yen - 500+ Pips Slide

Thursday, March 13th, 2008

Sterling-Yen, GBP/JPY - one of the most volatile crosses in the forex trading calendar has seen a huge slide from yesterday’s Asian Market high of 207.98 to 202.96. That was a move of over 500 pips in less than two days trading sessions for forex swing traders.
The bounce off the floor from Tuesday session was derailed […]

GBP/JPY Slides 160pips On UK GDP Reports

Wednesday, February 27th, 2008

Pound-yen, GBP/JPY came down 160 pips on news of the UK Gross Domestic Product (GDP) report. The report came in at 0.6% this morning.
That was even on previous quarter but Index of services fell shot of 0.7% forecast by 0.1% . By norm, this was not enough to create this volatility except the nature of the season.
The cross broke through […]