GBP is rising against the leading world currencies after the optimistic statements of Marvin King gave boost to the national currency and despite disappointing UK indices released yesterday. The Governor said that BOE could respond to the economic situation in the country even if economic growth is slower than expected. Prior to King's speech the claimant count change had been published; it showed a 2,300 increase in unemployment claims which is much worse than analysts' 4,100 decrease. And yet, the Pound jumps to 1.5600 against the USD while it's getting closer to USD's next resistance at 1.5700. GBP's upward trend started last week from $1.5320 after several weeks of high volatility and no clear direction.

GBP/JPY -133.20

Despite a strong upward trend started a few weeks ago, JPY weakens against the GBP due to the Japanese Government intervention in the forex market. Japan sold millions of yens thus decreasing JPY's price all over the world. The purpose of this move is to help Japanese exporters who suffered from yen's sky-high prices. Now the pair stands at JPY 133.20 gaining over 5 yen since the beginning of the week rising from 127.62. If the Japanese Government keeps intervening in the forex market, JPY is most likely to keep falling and its next resistance at JPY 134.00 to be broken.