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The pound enjoys a spectacular rally following the clearance of the contest for PM in the UK. The yen is on the back foot following speculation for stimulus. In turn this results in a huge rally for GBP/JPY. But can it last? There are reasons to doubt it. In the meantime, the Canadian dollar could rock and roll on the rate decision in Canada with oil prices off their highs and new worries, some suspect the BOC could cut rates.

Wrap up of the morning show: