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February 28, 2023
Pound-Yen trades at 164.59 after gaining 42 pips (0.26%).
Meanwhile, Japan Industrial Production published yesterday at 23:50 UTC came out at -4.6%, falling short of the -2.6% projections and continuing its decline from the previous 0.3% figure. Japan Retail Sales beat analyst expectations of 4% and the previous reading of 3.8% with new data of 6.3%.
Other currencies are also rising as GBP/CAD goes up 0.59% to trade around 1.6461. GBP/USD increases 0.31% to trade around 1.2096.
While Pound-Yen is up today, these currencies are lagging behind: after ending yesterday's session at 1.7189, EUR/NZD lost 72 pips and is trading around 1.7117.
Elsewhere, United Kingdom Manufacturing PMI figure is projected at 49.2. It previously stood at 49.2; data will be released tomorrow at 09:30 UTC. United Kingdom BoE Gov Bailey speech is scheduled tomorrow at 10:00 UTC. Japan Capital Spending (YoY) (Q4) is expected tomorrow at 23:50 UTC.
Having established significant support at 144.6 approximately 4 months ago, Pound-Yen's share price has bounced 13.53% higher.
