This is followed on Wednesday by UK CPI data for June, both month on month and year on year. On Wednesday we have the US Federal Open Market Committee minutes from their most recent meeting and the results of the interest rate decision by the Bank of Japan.

Any change in interest rates in the land of the rising sun would have significant impact on those looking into buying foreign currency as it is one of the primary currencies that is borrowed when investors strike “carry trades” – borrowing a currency at low interest rates to invest on one with a higher yield.
Is the madness beginning again?

The Nationwide Building Society has introduced a mortgage allowing borrowers to take loans worth 125% of the value of the home they are buying. Now surely this sort or irresponsible lending is partly responsible for the financial crisis we find ourselves in today, surely this is the time that regulators have to step in and set some firm guidelines about the amount of borrowing an individual can take out against a property.  Dave Simonton