GBP/USD takes out previous interim low as USD/JPY advance continues

Since the previous update the USD/JPY has advanced further and now traded above 152.75. To be honest there was some surprise earlier this morning when the USD/JPY headed in the opposite direction to the USD/CNY. Well that has now changed following the reported comments from the BOJ. So, as the Yen weakens further it has sent a bout of renewed pressure onto the EUR/USD and the GBP/USD, notwithstanding upside in the GBP/JPY and EUR/JPY. The GBP/USD just now took out the previous interim low at 1.2717, but not by very much, which suggests there might have been stops below that level. The low seen was set at 1.2713. It is above that low now, but this bout of dollar strength has further dented the Pound. That is well demonstrated by the slight rebound off the lows in the EUR/GBP just now. The GBP/USD is currently trading at 1.2723