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Forex Flash: Local press play down Muto as next BoJ Governor - BBH

Brown Brothers Harriman analysts note that the local press have started to talk down the chances of Muto becoming the next BoJ Governor.

They comment that as he was perceived as the least dovish of the top contenders, his reduced chances initially weighed on the yen, from which it quickly recovered, perhaps helped by cross rate developments.

Forex Flash: Cable tests 1.53 technical objective of double top - BBH

Brown Brothers Harriman analysts note that GBP/USD has tested the technical objective of the double top pattern.
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Forex Flash: Gilts break out of consolidated range – RBS

According to Dmytro Bondar, a Technical Markets Strategist at RBS, “From safe havens, Gilts look far less attractive, as a break of the recent ranges brought he market to the 114.58 retracement level (50% of 2012 extremes), while the former support of 116.00 has now turned into resistance. The overall bias is for a range of 114.60-116.60 with a possible recovery towards 117.80 if the latter is broken. However, this is unlikely to happen in the near-term. For the next week, we favor a range trade between 114.60 and 116.60. A break of 114.58 triggers a move to 114.00 and 113.14 – an upside break points to recovery towards 117.82.
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