Once again we're seeing oil price rises producing GBPJPY demand 1 Dec GBPJPY now up to 143.55 again from 142.65 lows earlier when oil prices staged an early retreat. With oil pushing back up we're seeing yen selling return on risk-positive sentiment and with GBPJPY the favoured play by hedge funds due to its extremes/volatility we're got GBPUSD rallying to 1.2573. Offers into 1.2600. Current demand pushing EURGBP down below 0.8450 which in turn is capping EURUSD which has large 1.0600 option expiries casting a big shadow ( for those who haven't read my previous posts this morning) USDJPY 114.27 with offers noted into ... (full story)