The FX market was quiet as the session saw no major data releases. EUR/GBP was falling for a second day in a row; the key risk event for this cross is Wednesday’s BOE inflation report. USD/JPY was the big mover during the session as speculation that the PM will call a snap election weighed on the yen. AUD/USD gave up gains made after Australia’s better-than-expected business conditions report, falling to today’s low of 0.8587. But the pair later recovered most of its losses to trade at 0.8630 (around 12:25 GMT). Trading is likely to remain subdued for the rest of the day as US markets closed due to the Veterans Day.
The material has been provided by InstaForex Company – www.instaforex.com