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Cable was steady at 1.3464 even as gilts slumped on political risk tied to a reported Burnham leadership challenge to Starmer.

UK fiscal and political jitters are capping sterling despite a broadly soft dollar, leaving the pair range-bound.

1.3400 support and 1.3550 resistance frame the range; gilt headlines are the near-term swing factor.

USD/JPY pushed to 159.88, within a whisker of its 52-week high, as yield differentials and BoJ caution kept the yen pinned.

With US10Y at 4.45% and the BoJ slow to tighten, carry strongly favors the dollar — but intervention risk rises near 160.

160.00 is the psychological and intervention trigger; a clean break targets 161.50, while jawboning could snap it back.