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Continues to trade on the front foot

GBP
  • The British Pound extends gains against the USD and JPY.
  • Not super clear on the definite driver, seems the technical breakout in the EURGBP has spilled over somewhat, USD offered on the Risk On tone has also provided some support for G10 currencies.
  • Market participants are already pricing that the BoE will move ahead of the Fed, but price action in Rates or Govies today, do not support that thought process.
  • GBP leads against the Yen in G10s, up 0.67%, and we now eye yesterday's high at 158.223, which is also the highest print since 24th June 2016.
  • EURGBP psychological 0.8400 is so far holding

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