Does GBP/JPY Offer Some Clues?

March 2007 | Market Alert

This note has been put together ahead of the March US non-farm payrolls data. Given the strong focus of global investors on the US macro situation, amid fears of a more pronounced downturn, a further upturn in volatility cannot be ruled out. In this respect, US$/JPY is obviously a key barometer. Looking for carry trade clues is now extremely difficult, and perhaps one cross rate to look at is

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