The pound rises 0.2% to $1.2218following a report that showed that the wage growth accelerated in the previous three months to November, while employment increased by 27,000 more positions than expected.
“Official data showing that employment conditions have held up better than expected should be taken with a grain of salt,” he said. simon harvey, from Monex Europe in dialogue with Reuters. “The Bank of England is unlikely to go too far.”
The yen falls 0.17% to 128.72 units per dollar, after touching a maximum of 127.22 on Monday not seen since the end of May. Options trading shows a market primed for wild moves when the BoJ wraps up its two-day meeting on Wednesday.
There is speculation about a change or the end of the Japanese yield curve control policysince the market has pushed 10-year yields above a BoJ-set ceiling of 0.5% and the amount of bond buying to defend it is getting gigantic.
Besides, dollar index bounces from 7-month low of 101.77 units reached on Monday and gains 0.1%, to 102.4. The euro stabilizes at 1.0819 dollars.
The currency market did not react too well to the data from chinese growth, which were much better than expected. The yuan lost 0.6%, to 6.7760 units per dollar.
Source: Ambito
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