To repeat myself, yield differentials are one of the main forces driving currencies. So, quite logically, the status quo of the BOE, SNB and BOJ weighed on the performance of their respective currencies. Sterling was one of the hardest hit, falling not only against the dollar and the euro, but also against the New Zealand kiwi, the Australian aussie and the Canadian dollar. The Swiss franc followed suit, losing ground against the same currencies, and even had the luxury (!) of underperforming the Japanese yen, which did rather well in the end. The USDJPY is still close to resistance at 1.4828.

To give you some perspective, here's the long-term chart of the GBPAUD over the last ten years. As you can see, the pair is evolving within a triangle that has been in progress since 2015, and has just bumped into the upper boundary around 2.00. Given the structure, we can expect a relapse in the coming year towards the triangle's lower support boundary around 1.6925/1.6880.

Devises

(Source: Bloomberg)

Closer to home, the EURUSD remains on the wrong track below initial resistance at 1.0750, before a key level at 1.0930/1.1008 and an unchanged target at 1.0460/30. EURGBP and EURCHF are testing the top of a horizontal channel at 0.8675 and 0.9642/78, whose breach would open up respective targets at 0.8857 and 0.9810.

Lastly, the AUDUSD is still locked in a narrow consolidation band between 0.6486 and 0.6374, while the NZDUSD is currently testing resistance at 0.5974, which would need to be breached in order to reach 0.6106.