Improved risk sentiment may pull AUD/USD higher, though it might be difficult for the pair to get outside of consolidative mood before we hear from the Fed on Wednesday.
GBP/USD has recovered to $1.6150 on Monday. UK CBI Realized Sales came out well above the forecast, rendering support to the pound. The upside remains capped by $1.6180 for now; next levels above the price are $1.6200 and $1.6220/30. Support is seen at $1.6000 and $1.5950. Dovish MPC member Shafik will deliver a speech at 18:30 GMT on Monday, while on Tuesday evening member Cunliffe is scheduled to speak.
USD/JPY trades under bearish pressure on Monday, but holds above the 107.50 support as we write. Last week’s close above the 108 mark was a bullish sign, so we see space for more bullish movement. Japan will release September retail sales data at 23:50 GMT on Monday (forecast: 0.9% vs. prior 1.2%).
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