GBP crosses/JPY crosses

GBP/JPY goes crazy as cable stops triggered

The entire planet has known forever that political grandstanding would continue up until the last possible minute and then a deal would get done.

Despite this we are seeing some super-silly moves in very illiquid markets with GBP/JPY now top-of-the-pops. Cable tripped stops above 1.6315 and has finally halted near 1.6385 and USD/JPY is also higher, trading up to 87.20.

This move reeks of panic buying in illiquid markets but there’s no point trying to get involved just yet.

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