GBP/USD and GBP/JPY falls to session lows
Cable touches a low of 1.3240 on the day and the GBP is now tied with the EUR as the worst performing major currency so far. GBP/JPY also sailed past the 145.00 handle and is now treading waters just under 144.00.
The next support level for GBP/USD is the 28 November low @ 1.3221 with further support only seen closer towards the 1.3000 levels.
As for GBP/JPY, the pair is extending the fall towards the 76.4 retracement level @ 143.39 after breaking the March lows in trading today to post its lowest levels so far this year.
As Italian political woes weigh on markets, rate hike bets for the BOE has also trimmed as a result of the volatility and uncertainty posed by Italy. A rate hike in November by the BOE is now seen a little lower at 60%, after having once been above 90% at the start of April.
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