Disappointing US jobs data did little to move the market, or provide any insight to future interest rate movements. With no data out in the UK, there was no real volatility in the trading market; instead, traders are looking forward to this week's Bank of England interest announcement. The European Central Bank decision is also due out on Thursday and is likely to leave rates on hold.

GBP

With no significant market data out, traders are looking to the UK's interest rate announcements due tomorrow. The Bank of England are in a difficult position as they battle to curb inflation which is still over their two per cent target, yet juggle with the slowing economy due to the credit crunch. Expectations are that the BoE will decrease interest rates for the third time in five months.

USD

US employment figures have seen investors now forecast that the fed will decrease their rates by 25 basis points rather than the previous forecast of 50 basis points. The payroll numbers were seen to confirm what many people suspect regarding the weakening of the US economy; nevertheless, they were better than many had feared.

EUR

Eurozone finance ministers met with a call to curb foreign exchange volatility, their concern being the excessive volatility in rates harming world economic growth. Traders will now look to the interest rate announcement due out, where it is widely expected that the European Central Bank will leave rates on hold.

JPY

Japanese life insurers plan to pick up more overseas bonds in the new fiscal year beginning this month, with the appeal of hedged holdings warming up due to a sharp fall in the cost to buffer against foreign exchange volatility.