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BoJ rate decision, U.K. retail sales and an SNB rate decision may lead to a day of volatility tomorrow. Consumer consumption has been a concern globally and with lending standards remaining tight for Britons a drop in demand could raise a red flag for the BoE which has left the door open for additional measures which could lead to bearish sterling sentiment. Although, we don't expect the BoJ or SNB to make changes to their interest rate policy, we do expect that they will express their displeasure for their currency's recent appreciation. The potential verbal intervention may led to weakness in the traditional funding currencies.
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John Rivera is the author of Market Brief, Top FX Headlines, and Forex Trading Weekly Forecast on DailyFX.com.
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