Great Britain

• BoJ injects 800 billion yen-

  Today, the GBP/JPY continued its strong movements with a 375 pip drop. Starting the day at a high of 229.09, it began its descent to the lowest point at 225.32. News that the Bank of Japan injected 800 billion yen into the financial system was the reason. It nearly erased this drop in two hours with a 300 pip upward movement. It has since traded at 226 on anticipation of the interest rate announcement tomorrow.

• GBP/JPY closes out the entire week- Every day this week, the GBP/JPY dominated the currency markets in largest movements. The only difference today was that it moved up instead of down. Hitting a low of 219.27 early in the day, the pair soon began its near 1000 pip movement. News that the Fed decreased its discount rate started the reaction. Confidence was restored in investors viewing the move as the Fed’s management of recessionary risk. They moved the DOW up more than 200 points. With that, traders could stomach risk a bit more reversing the losses in the GBP/JPY pair.
• GBP/JPY for the third-

  For the fifth straight day, the GBP/JPY has made the largest moves of the major pairs. Today’s movement was only a little over 200 pips. I say only because after hitting its peak on Saturday at 243.97, it’s dropped more than 1000 pips. The pair hit its lowest point today at 231.66 after weaker economic data was released in Britain. Recent downturns in financial markets at the hands of the credit crisis also played were a factor.

• GBP/JPY for the second time in a row-

  For the second day in a row, today’s money maker was the GBP/JPY. After the pair dropped by more than 300 points this past weekend, it continued the trend. This morning’s weaker than expected inflation data in Great Britain can be partly attributed to this. A softer economic picture pushes down expectations of another BoE rate hike further down. The GBP/JPY started the day at a high of 237.43.

• GPD/USD- Anyone going short on the GBP/USD into the weekend saw great gains. Even if you entered the trade ahead of the 200 pip gain early Friday morning, you would have still made a profit of 100 pip. After hitting its highest point on Saturday at 2.0389, the pair began its slide toward this morning’s low point of 2.0083 marking a nice 300 pip return to those shorting the GBP/USD.
  
  
• GBP/JPY...again-

  The largest movement for the second day in a row was the GBP/JPY. The pair erased yesterday’s 400 pip gain by crashing down on news that BNP Paribas froze three investment funds with positions in US subprime mortgages. France’s largest bank prevented withdrawals after claming it couldn’t fairly value investors’ holdings.

• GBP/JPY...again-

  The largest movement for the second day in a row was the GBP/JPY. The pair erased yesterday’s 400 pip gain by crashing down on news that BNP Paribas froze three investment funds with positions in US subprime mortgages. France’s largest bank prevented withdrawals after claming it couldn’t fairly value investors’ holdings.

• GBP/JPY- The GBP/JPY made a 400+ pip movement in the wake of a BOE inflation report released early today. Record oil costs and rising food prices pushed the inflation above the Bank’s comfort zone. Ahead of the release, the pair traded at its lowest point of the day at 239.83.  In nearly nine hours, the pair bounced 400 points upward to its highest point of 244.01