We heard about the USD/JPY side of the equation but the demand for GBP/USD flew under the radar as GBP/JPY turned out to be the star attraction at the 16:00 fixing.
It jumped over a yen from 129.40 a half hour before the fix to 130.45 five minutes after the fix…
It is still much lower on the day and runs into heavy resistance around 130.80 on rebounds….
