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Forex Fundamental Analysis: The yen reached the 7 year low

Forex Fundamental Analysis: The yen reached the 7 year low

Pound

The yen reached the 7 year low

The British pound strengthened against the dollar, but it did not reach new highs and remained in the previously formed correctional side corridor. The British Bankers’ Association’ statistics (BBA) announced the approved mortgage loans for October, probably with the reduction to 38.5 thousand vs. 39.3 thousand and the political component will present the UK inflation parliamentary hearings for the third quarter. The pair continues to consolidate in the range, limited by the support level of 1.5630-1.5650 and the resistance level of 1.5730 – 1.5750.

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