Markets are treading water after an active morning, taking a well-deserved breather. The one exception at the moment is the pound, which continues to rise versus both the dollar and the euro. Cable has 1.49/1.50 in its sights in the days ahead. EUR/GBP trades at session lows of 0.8735. downside targets lie around 0.8600.
The rumor mill is churning with the latest whisper of demand for both USD/JPY and the JPY crosses at the upcoming 16:00 GMT fixing.
