GBPUSD would continue to show weakness. It is to be seen what GDP numbers reflect but until then traders would keep their pound holdings thin. EURUSD is expected to remain directionless; however, EU consumer confidence index on Tuesday could trigger some directed momentum. With regards to USDCHF it appears that for the time-being SNB has decided against pegging franc to the euro, but it is rumored that it is selling franc in the forward market. If true, speculators would try and replicate the same in the spot market, however, beware as the long-term trend still favors CHF. JPY seem to have run out of steam recently due to weak export data which is expected to push the country towards recovery. It still remains a safe alternative among basket of other currencies, but next week it is expected to follow the major market sentiment.
