G7 Confusion & GBP/FTSE Patterns

G7 Yen Retraction won't Matter: Three hours after the G7 statement added fuel to the “yen carry trade” fire by tacitly approving Tokyo's currency policy disguised as a reflationary monetary policy, G7 officials re-emerged to state that they will issue a modified communique on currencies at the G-20 meeting with added emphasis on the yen. NPNE OF THIS is likely to matter in the medum term as we expect the anti-JPY dynamics to prevail. For more on JPY & FTSE/GBP Patterns, click here

Click To Enlarge