Are we going to see more high's today on the yen and sterling?

The FOMC minutes confirmed a divergence in views among the Fed officials which helped to keep the USDJPY up. It seems as though the market is holding their horses as they await for the rate decisions.

The Euro retreated on the announcement that Moody’s revised their rating for Portugal. EU PMI improved to 56.9.

Japan Finance Minister Noda said he would continue to seek cooperation from his G7 counterparts at an upcoming meeting.

UK PMI came in better at 57.1 which increases the likelihood of a rate hike in may. UK manufacturing production came out 30 minutes back and was a slight disappointment at 0% vs consensus of 0.6%. We saw cable drop lower to 1.6270 levels.

Data Today

UK Industrial Production - 8.30am GMT

UK Manufacturing Production – 8.30am GMT

Happy Trading!

FxTaurian