Bullish currency pair Pound-Yen runs out of steam at 165.47; currently at 164.68

After ending the previous trading day at 163.82, GBP/JPY went up to 165.47 only to drop back; still positive overall today, now trading at 164.68.

Pound-Yen is currently trading at 164.68 following the release of Manufacturing PMI data from the United Kingdom.

At the same time, United Kingdom Manufacturing PMI came out at 47.9, while a consensus of analysts was expecting 48. Japan Tankan Large Manufacturers Index (Q1) released yesterday at 23:50 UTC with a figure of one, while the previous figure was seven. Japan Tankan Large Non-Manufacturers Index (Q1) came out at 20, while a consensus of analysts was expecting 20.

Elsewhere, other currency pairs are also gaining ground as EUR/JPY improves 0.5% to trade around 144.7. USD/JPY is up 0.36%. GBP/NZD gained 0.33% and is now trading at 1.9768.

Also worthy of note, Japan 10-Year JGB Auction scheduled to come out tomorrow at 03:35 UTC. United Kingdom MPC Member Tenreyro speech is scheduled for tomorrow at 09:15 UTC. United Kingdom BoE MPC Member Pill speech set for tomorrow at 16:30 UTC.

The currency pair has been trending positively for about 2 months. Pound-Yen is now trading 13.29% away from its significant low of 144.6 first tested 5 months ago.