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GBP/JPY erases weekly gains

FXStreet (Córdoba) - GBP/JPY dropped for the second day in a row on Wednesday, retreating further after climbing on Tuesday to 173.94, the highest level in five weeks. After peaking the pair started to moved with a bearish bias.

Cable failed to hold above 173.00 and accelerated the correction below. During the recent American session bottomed at 172.35, the lowest price since last Friday.

From Monday to mid-Tuesday GBP/JPY rose 125 pips and then erased all gains. It finished Wednesday around 172.245, around the price it closed on Friday and 150 pips below weekly highs.

US stocks mixed ahead of ECB and BOE

The US stocks closed near of lows of the day as major indexes lost initial gains amid Ukraine and Russia news on cease of fire... or not.
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EUR/USD rises modestly ahead of ECB day

The euro finished modestly higher against greenback on Wednesday, trading around 1.3150 and ahead of the ECB decision.
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