All eyes are on the UK CPI figure this morning.
Another rise in the Consumer Price Index (CPI) may help to enhance the appeal of sterling and fuel a larger relief rally in GBP/USD.
Carney looks set to drop his dovish outlook for monetary policy and becomes increasingly concerned about overshooting the 2% target for inflation.
There’s a cautious day ahead for Japanese equity markets as the Nikkei closed down 0.03% and the USDJPY failing yet again at 108.50
With German GDP lower than forecast, a shadow could be cast on the short term outlook for the DAX.