• Flat - closed +0.75% on broad USD weakness, yen cross demand, GBP/JPY +2%

• Tokyo's response to yen weakness will likely lead sterling in Asia

• UK businesses face 'bleak' outlook after poor end to 2022: BCC nL8N33P3NV

• UK government must find a compromise with EU on post Brexit trade rules

• Charts; daily momentum studies conflict, 21 day Bollinger bands fall

• 5, 10 & 21 day moving averages gently ease, setup remains negative

• 1.1897 lower 21 day Bollinger band, and 1.2133 21 DMA key levels

• 1.2017 NY low and London 1.2088 high are initial support, resistance

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