GBP/USD: Edging Up toward 1.9925 Offers

GBP/USD is trying to bottom just below 1.9900 but so far is having trouble clearing 1.9925 offers on rebounds. More sellers lie toward 1.9950 as profit-taking on stale Sterling long remains one of the main themes for the market today. Reports of Japanese real-money interest in GBP/JPY are helping give the cross a modest bid this afternoon, in-line with the other JPY crosses. GBP/USD trades at 1.9923 while GBP/JPY trades at 238.23.