Cable has topped out near 1.6300/10 on three separate occasions in recent months and we are closing in again on the same level. The Yen crosses are driving movement today in very illiquid markets (Japan and China closed) and fiscal cliff developments are of course the main factor behind sentiment swings. GBP/JPY has gained added momentum after the break above 140.00 and is currently almost 100 pips above earlier session lows.
