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Cable clears initial support

GBP
  • Overall, the Dollar remains mixed against G10 and closer to flat against most G10 Currencies.
  • The Yen is unchanged and still the worst performer, but USDJPY is 24 ticks off its high.
  • Early European focus is on the British Pound, following the UK Employment data, with Cable broking below the 1.2800 handle, after UK Gilt gapped higher on the open.
  • Cable has now broken through the 1.2786 initial support (the January 2024 high), and further continuation would see test to 1.2733 High Nov 29 2023.

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