GBP is on a tear across the board but no where is the move more impressive than in GBP/JPY. That cross is up over 4 JPY since the NY open, trading as high as 159.17. Dealers have not seen any “official” interest but did note a US investment bank got the ball rolling in USD/JPY.
USD/JPY eyes its 200-day moving average at 97.05. That average repelled gains on Thursday of last week, one should remember. USD/JPY has reached 96.77 so far and trades now at 96.60.
EUR/GBP broke key support at 0.8637 and traded as low as 0.8618. It trades now at 0.8625. Levels this low have not been seen since early December of last year.
