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      Forex Flash: Obama highlights US focus for year ahead– BTMU

      Derek Halpenny, European Head of Global Market Research at the Bank of Tokyo Mitsubishi UFJ notes that President Obama´s State of the Union speech last night set out the US´s focus for the year ahead.

      He notes that there was a focus on increasing infrastructural investment, raising the minimum wage, reducing mortgage debt for households and agreeing a new trade deal with the EU. However, there was the usual criticism from Republicans about left-leaning policies that suggest a continued divided Congress, which will continue to make policy implementation an arduous task.

      Forex: GBP/USD falls below support following BoE

      After trading at an annual low of 1.5572 yesterday, the GBP/USD once again found itself in familiar territory – south of its opening. Following the aftermath of the BoE Quarterly Inflation report and as the BoE Governor King Speech unfolds the cross was seen trading at 1.5628/30, down -0.22%.
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