The markets could be set for a volatile last few hours today surrounding speculation over what may come from the Jackson Hole meeting starting today and going on over the coming few days. There is the possibility that further QE will be discussed for the U.S which will effect all major currencies not just the U.S Dollar as it will have an effect on global attitude to risk.

House price data this morning could set the scene for Sterling movements today however I think any further news surrounding Spain or the Euro zone in general may have an effect on Sterling Euro directly and the South African Rand may continue to weaken following an interest rate cut in South Africa recently.