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GBP/JPY falls back below 189 as GBP/USD edges below 1.2550

The Pound is still struggling following the release of the lower than expected UK CPI data and that has also allowed the FTSE 100 to rise above 7,550 although it remains uncertain as to whether it will manage to make further headway much beyond that level. What this fall below its 200 day moving average (1.2565) in the GBP/USD has done is to push the GBP/JPY back underneath 189. Now yesterday the GBP/JPY did reach the noted 190 handle. It set a high at 190.07 which was it highest level since August 2015. The close last night at 189.90 was also its highest daily close over the same 9 year period. However, it is giving some of that back today and falling closer to 188.75 a short while ago. 

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