The British pound has been extremely volatile this week due to active trading in the GBP/JPY which has moved up and down a hundred pips within a blink of an eye. It has been an exceptionally tough week for the British pound, which has lost approximately 400 pips against the dollar and more than 1000 pips against the Japanese Yen.
Hopefully that will change with the heavy UK calendar next week. The Bank of England is one of the few central banks sitting on their hands throughout the credit market and liquidity debacle.