The BOE expanded the asset purchase program by +50B pound to 325B pound and left the Bank rate at 0.5%. As mentioned in the policy statement, "the underlying pace of recovery slowed during 2011, with activity falling slightly during the final quarter. While policymakers noted that "some recent business surveys

Euro is mildly firmer in early US session on report that Greek politicians have finally agreed on the austerity deal. The majority Socialist said that Prime Minister Papademos reached a tentative agreement with three coalition party leaders after a marathon meeting but no detail is released yet. This is confirmed

Intraday bias in GBP/JPY remains neutral for the moment and more consolidations could be seen below 122.85 temporary top. But retreat is expected to be contained well above 119.58 support and bring another rise. Above 122.85 will extend the rally from 117.29 towards 100% projection of 117.29 to 122.04 from

Intraday bias in EUR/JPY remains on the upside with 101.65 minor support intact. Current rebound from 97.03 is expected to continue towards 100% projection of 97.03 to 102.20 from 99.24 at 104.41. On the downside, below 101.65 minor support will turn bias neutral first. But near term outlook will remain cautiously bullish as long as 99.24 support holds.

Intraday bias in EUR/USD remains on the upside with 1.3214 minor support intact. Current rise from 1.2625 is expected to continue towards 61.8% retracement of 1.4246 to 1.2625 at 1.3627. On the downside, below 1.3214 minor support will turn bias neutral and bring consolidation. But break of 1.3028 support is

Intraday bias in GBP/USD remains neutral for the moment and more consolidation could be seen below 1.5928 temporary top. But near term outlook remains cautiously bullish as long as 1.5729 support holds. Above 1.5928 will target 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Break will

Intraday bias in USD/CHF remains on the downside with 0.9151 minor resistance intact. Current fall from 0.9594 is expected to continue to 0.9065 next. As noted before, considering bearish divergence condition in daily MACD, whole rebound from 0.7065 is possibly finished. Break of 0.9065 support will target 0.8567 key support

USD/JPY rises further to as high as 77.35 so far in early US session and remains firm. Intraday bias is on the upside for stronger rally. But still, note again that near term outlook remains bearish as long as 78.28 resistance holds and fall from 79.52 is in favor to

Sterling remains steady after BoE did what markets expected, keeping rates unchanged at 0.5% and raised the size of the asset purchase program by GBP 50b to GBP 325b as "more likely than not that inflation would undershoot the 2% target in the medium term". In the accompanying statement, the

With 1.0701 minor support intact, near term outlook in AUD/USD remains cautiously bullish. Current rise is expected to extend further to retest 1.1079 high next. However, below 1.0701 will indicate that a temporary top is at least formed and turn bias neutral first. Also, sustained trading below near term rising