BOF gov and host of today's conference in Paris

  • hasty changes to central banks' inflation targets may affect credibility
  • ill-timed stimulus exit risk for financial institutions
  • too low rates for too long may be counter productive
  • zero lower bound of monetary policy has proved not to be the effective lower bound but there limits to how low one can go

And then what remains the question.

USD demand still prevailing with GBPUSD posting new lows of 1.4480 and the GBP TWI hitting 8 month lows of 89.2

EURUSD pinned around 1.0850