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  • GBP/JPY takes offers inside a choppy range around 154.00.
  • UK PM’s former aide blasts over covid performance, Irish fishermen, France renew Brexit fury as US warned Johnson.
  • Japan is up for extending jobs support amid virus woes, extended emergencies.
  • BOE’s Vlieghe, risk catalysts eyed for fresh impetus.

GBP/JPY fails to extend the previous day’s recovery moves while dropping back to 154.00 during the early Asian session on Thursday. The pair benefited from the risk-on mood on Wednesday before the British politics and Brexit headlines weighed down the quote amid a quiet trading session.

“It’s completely crackers that someone like me should have been there, just the same as it’s crackers that Boris Johnson was in there,” said UK’s former top adviser Dominic Cummings, per Reuters. The ex-diplomat also criticized the government for falling “disastrously short” on covid.

Elsewhere, the Daily Express reports, “Irish fishermen are set to march on Taoiseach (Prime Minister) Micheal Martin’s office today in protest of the “plight of the industry” since the UK’s Brexit deal with the EU.” On the same line were chatters that French PM Emmanuel Macron tried to exploit the Brexit deal and the UK but the US warning to UK PM Boris Johnson, to uphold the Good Friday agreement, tops everything else.

On the other hand, the Japanese government is set to extend the job subsidies by the end of July, as Nikkei news, amid the prolonged coronavirus (COVID-19) crisis and extended emergencies in the key prefectures including Tokyo.

It should, however, be noted that the global market sentiment was mildly positive amid receding fears of tapering, mainly tamed by the US Federal Reserve (Fed) officials.

Against this backdrop, S&P 500 Futures print mild gains after the modest positive closing by the Wall Street benchmarks.

Given the light calendar in Japan and the UK, BOE Policymaker, Dr. Gertjan Vlieghe’s will be the key to confirm BOE Governor Andrew Bailey’s bullish outlook.

Technical analysis

A 12-day-old symmetrical triangle between 154.10 and 153.90 restricts short-term GBP/JPY moves.