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Monday, March 20, 2006

GBP/JPY Big Move Below 100-Day

With the absence of any U.S. data on the calendar, it seems that today's action may center on competing rhetoric from major central banks. Earlier today, analysts followed hawkish commentary by the ECB's Trichet and Issing, which contributed to an early European rally for the Euro. The bank is concerned about the rising liquidity levels in their banking system, something that the ECB follows more closely than the Fed. Read More....