More upside to come?
The Bank of England is increasingly worried about inflation. Bailey is worried and Saunder's thinking is that an earlier market pricing of a rate hike is appropriate.
The JPY is weaker on the USDJPY (US10Y) pushing higher on expectations of a November taper from the Fed. So, this makes a GBPJPY a buy on dips and here are the key breakout levels marked on the chart. The key risk is any risk off trading which will strengthen the JPY.
