020 7898 0500Elsewhere, the Japanese yen fell this week following monthly trade balance figures that showed a slowing down of export levels as the country continues a record run of trade deficits; but was boosted following an increase in borrowing costs for Chinese banks which saw investors flocking towards the perceived safe haven currency. With both Swedish and Norwegian national banks choosing not to change monetary policy in light of the positive growth outlook for both countries the respective currencies strengthened this week against the pound. The Bank of Canada also voted to keep interest rates unchanged at 1% in October. However, despite the recent rhetoric from the BoC indicating that a rate hike may be imminent, the central bank suggested that the “monetary policy stimulus currently in place remains appropriate”. Contact your trader for live pricing on your currency pair.
