“Bad news out of Euro could offer support to Cable via GBP/EUR rally”, says Steven Woodcock, Senior FX Analyst at Plutus FX while detailing the possible price action in the major FX pairs – GBP/EUR, GBP/USD and USD/JPY.
Woodcock makes an interesting observation regarding the FX market activity during Tokyo lunch hours and London lunch hours. ‘Volumes take a hit during Tokyo lunch hours and that’s when BOJ intervenes’, adds Woodcock.
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