GBP and JPY gains

We are seeing sterling and the yen gaining during the morning session. Sterling is seeing follow-through from the earlier buying seen after the data. The yen is gaining as a more risk averse tone sets into markets, such as equities, with bond yields also higher. The recent gains and continued low volatility give a vulnerable air to many markets, but as always it’s a matter of timing with regards if or when corrective activity is seen.

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