Today Bank of England did not bring any surprise to the market, although nobody did not expect such news from it, taking into account dilemma in the form of economic weakening and high inflation, against which the British Central Bank stand. At the meeting in August the Committee on monetary politics made a decision to leave its rate without change at the level of 5,00%. The British Pound reacted to it first with light weakening, but sells were inactive and ask at the level of $1,9505/10 was enough to let sellers to below. In this time the quotation of GBPUSD trades at the level of session highs near $1,9520. At this level potential of the Cross is limited by offers in the rage between $1,9520 and 30. The biggest interest today is focused on press conference of the president of European Central Bank Jean-Claude Triche which will take place at 14:30 CET.

Today's Market View - USDJPY

Analysts of Standard Chartered positively viewed the perspective of the American Dollar against the Japanese Yen especially after the Cross broke the resistance level of Y108,60. It caused execution of stops, which served as additional stimulus for acceleration of the current ascending trend. In the perspective the bank forecasted Dollar’s raise to the level to Y112,00 and set the target in the middle of this range at the level of 113,30. This level is 61,8% Fibonacci correction level from the fall with the high of the last year at Y124,14. In the case of weakening the support at the level of 106,60 constrain every attempt of sell, so Standard Chartered.