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Forex: GBP/JPY dives to 143.00 handle on BoE

The British Pound is plunging against its counterparts, sending the GBP/JPY to lower levels as well. The release of the BoE meeting minutes triggered a move below the 144.00 handle for a test of the 143.00 mark in a matter of 20 minutes.

In the last MPC meeting, Governor King, Fisher and Miles were in favor of an increase of £ 25B in QE. UK labor data shows a higher ILO unemployment rate from 7.7% to 7.8%. However, there were 12.5K less claimants in January, instead of -5K as expected, pushing the rate lower from 4.8% to 4.7%.

The JPY is also trading somewhat stronger today, as the currency consolidates recent gains. Japan's All Industry Index rose +1.8% in December (MoM), beating +1.6% consensus.

Mataf.net analysts point to resistances at 144.24, 144.70 and 145.85. On the downside, supports might be found at 143.10 and 142.75.

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