ForexLive morning news wrap: Pound and BOE dominate the landscape

Forex news for the European morning trading session 14 Sept 2017

News:

• BOE MPC leave interest rates on hold. Vote 7-2
• BOE MPC Minutes: Some withdrawal of stimulus likely appropriate in 'coming months'
• All aboard the GBP rollercoaster ride as MPC remain on hold but ready to tighten
• Bitcoin exchange BTC China to stop all trading from 30 September
• Italy's Padoan says strong euro might slow pace towards end of QE
• ECB's Jazbec says tapering decision has been postponed but is inevitable
• SNB leaves interest rates on hold
• SNB says significant overvaluation of CHF has been reduced
• SNB's Jordan says CHF still over valued 14 Sept
• SNB make a small change in rhetoric but is it significant ?
• Trump says the WALL will continue to be built
• Forex option contract expiries for today 14 Sept
• Latest Reuters poll expects US Fed to hike rates by 0.25% in Q4
• RBA posts AUD 0.9bln losses for 2016-17 accounting period
• Latest NZ election poll has opposition Labour party leading by 4%
• UK refers 21st Century Fox-Sky merger to competition watchdog
• Italy's Confindustria sees Q3 GDP rising 0.45%
• OECD raises French 2107 GDP forecast to 1.7% vs 1.3% prev
• Nikkei 225 closes down -0.29% at 19807.44
• ForexLive Asia FX news wrap: AUD up - very solid jobs report

Data:

• Italy August CPI final mm 0.3% as expected
• Japan July industrial production final mm -0.8% as exp

There's your headlines. Apols for late delivery but one pair of hands simply not enough on this shift.

Ok, far too much p/a to itemize pip by pip so check your 5m charts for all the detail. Rest of the detail in the headlines above but here's some key moves/pointers;

• SNB leave rates on hold but slightly temper CHF rhetoric.
• CHF weakens regardless given the essential song remains the same
• USDCHF highs of 0.9689 from 0.9635, EURCHF 1.1530 from 1.1460
• BOE leaves rates on hold. Vote 7-2 as most expected. Cue GBP fall.
• BOE Minutes hawkish. Cue very rapid GBP reversal
• GBPUSD down to 1.3151 then 1.3335, EURGBP up to 0.9050 then down to 0.8925
• EURUSD tight range with options casting a shadow.
• AUDUSD tightly bound around 0.8000 with large options in play
• USDJPY underpinned into 110.30 but sellers poised at 110.80-00
• US CPI data now in focus at 12.30 GMT
• Gold tightly bound $1320-26
• WTI steady rally to $50.10 from solid $49.45 base.

GBPUSD 15m

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