Forex Flash: Sterling eclipses Yen as main FX focal point - BBH

Brown Brothers Harriman analysts note that GBP has replaced JPY as the focal point for the FX market as it hits fresh multi month lows.

They note that the latest move comes as the BoE minutes revealed that the bank is closer to easing than had previously been suspected and while it was a unanimous decision to leave rates on hold as expected, it was a tighter 6-3 vote on new asset purchases. The market had expected an 8-1 vote.