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USDCHF hitting session highs of 1.1315 as USDJPY climbs to 111.00 afetr GBP takes hits all the way down to 2.0217 as stops are triggered before bouncing a bit back up to 2.0230

And went as high as 2.0315 before aggressive offers from US investment bank pushed it down to 2.0285 lvl

Expect some consolidation for most of the day until the 7:00 am EDT Interest rate announcement

Should see some jittery trading action today and although market talking of no change by BOE, if they indeed do leave rates unchanged , look for huge rally in GBP

ALso keep in mind ECB Rate announcement (expected unchanged) announced at 7:45 am EDT and Friday we will see US Payroll data

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EURUSD breaks above the highs and rises above 1.4700.  Next technical level to watch is 1.4740 trendline on the hourly chart

EURJPY meets some resistance at 162.60

Market in thin conditioons so far

SWISS CPI +1.8 %  in Nov  vs  forecast of + 1.4 %

   m/m  + 0.5 %  vs  + 0.1 % forecast

USD/CHF comes off a bit down to 1.1195/00

Says wants BoE to get ahead of the curve.  Lomex says rates are high relative to other G 7 countries

Its looking like BoE will cut rates , possibly at next week's meeting

GBP down to lows against USd at 2.0630

EUR/GBP up from 0.7138 to 0.7152 and GBP/JPY approaching the break of 227.00 

as comments by MPC members come across wires.

Gbp/usd at 2.0647 just off lows of day