AUD Jump$, GBP Awaits BoE

At 7:00 AM Bank of England Rate Decision (exp 5.5%, prev 5.5%)At 8:30 AM US Weekly Jobless Claims (exp 310k, prev 310k)The greenback is predominantly lower across the board, struggling near 17-year lows versus the Aussie and 30-year lows against the Loonie. The recent weakness is largely a result of strength in the overseas economies rather than weakness in the US economy, particularly given the recent bout of mixed economic reports. Sentiment over interest rate differentials will remain a key factor in the currency market, as traders continue to observe the growing disparities between US economic growth and its overseas counterparts – with the US’ clearly lagging.