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Forex: Thursday’s review
The pound slumped against all its major counterparts after the Bank of England expanded its bond-purchase plan and kept its benchmark interest rate at a record low. Sterling tumbled after U.K. policy makers said they would increase their bond-purchase program by 75 billion pounds.
The franc dropped for a third day against the euro on speculation the central bank will impose further measures to contain its strength after imposing the cap last month at 1.20 per euro.
EUR/USD: the pair is restored and showed new weekly high.
GBP/USD: the pair tested essential changes on yesterday's sessions of the Central Bank
USD/JPY: yesterday the pair holds in range Y76.55-Y76.85.
On Friday UK data starts at 0830GMT with the Producer Price Index for September, which is expected to show output prices higher by 0.2% m/m, 6.3% y/y. The focus is on US data at 1230GMT when nonfarm payrolls are forecast to rise 80,000 in September after the flat August reading, but the unemployment rate is expected to rise to 9.2%
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