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Forex: GBP/JPY consolidation continues as longer term trend remains bullish

The GBP/JPY is edging lower during the Asia session, down 28 pips at 155.50. The previous day saw some important economic data out of the UK, including the Claim Count Report, as well as the Bank of England’s latest Inflation Outlook Report. Later on in the Asia session we will see a few reports from Japan including Industrial Production and Capacity Utilization.
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New Zealand unveils new budget

New Zealand budget was just released, showing a deficit of $NZ6.3bn for the period 2012/13 and a projected one of $NZ 2bn the 2013/14. Finance Minister Bill English will attend the press at 4.30GMT.
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