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GBP Extends losses

CROSS ASSET
  • The fall in Cable is spilling over into GBPJPY, now also at session low, but no impact on the EUGBP, with the EUR in the red against all the majors so far today.
  • Small support is still at 1.2472, but most market participants will look at 1.2446 next, last week's low and lowest print since the 8th June.
  • A function of the Dollar also helping the moves in the Pound and EUR, as EURUSD eye a test at the 1.0700 figure.
  • As noted earlier, there's notable option expiry for today at the 1.0700/1.0725 mark..
  • The Dollar test session high versus CNY, SGD NOK, SEK, and DXY hovers at session low.
  • Gold is falling lower on the back of the Dollar, but still short of the initial support seen at $1903.9 - Low Aug 25 .
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