Cable touches a low of 1.2964 as GBP/JPY touches a low of 144.25
The year's low @ 1.2958 is within reach now and it's looking very much a question of when it tests the level and not if. There isn't any particular catalyst that I can point to on the day but this is very much a continuation of the downtrend from Thursday after Carney's press conference - which poured cold water on future BOE rate hikes.
The lows on Friday reached 1.2976 and a failed rebound above 1.3000 has seen the pair continue to fall, with GBP/JPY also helping to lead the charge lower in sterling:
GBP/JPY looks to be breaking the 19 June low of 144.39 now and support at 143.78 will be eyed next by sellers.
