It's not just about the yen today
The pound's struggles are very much still in play as traders continue to price in the possibility and chances of a hard i.e. no-deal Brexit outcome. The rhetoric has gone quiet over the last two days but that doesn't mean that it isn't a factor at play here.
For EUR/GBP, this has seen the pair move higher to touch its highest levels since November last year. The pair is now trading near the highs and looks to be running into the cluster of resistance levels/swing highs from last year between October and November.
Those levels between 0.8990 and 0.9030 - and the 0.9000 figure level in particular - will be key areas for buyers to navigate through for the time being.
With GBP/USD and GBP/JPY also under pressure on the day, it's hard to argue for anything but further pound weakness in the near-term.
