GBPUSD going for a stroll
The quid liked the cut of Davis’s comments earlier and that’s now been aided by some dollar weakness filtering in.
GBPUSD has run up to 1.3421 from 1.3360 odd. and we’re approaching moderate resistance around 1.3430.
This doesn’t look like anything more than two small factors combining to give it a lift. USDJPY has dropped through the morning support around 112.70 to 112.60, while EURGBP has hit 0.8770 from 0.8795. DOn’t forget we’ll probably be seeing some further flow moves at the various fixes throughout the day.
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