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March 10, 2023Tentatively higher from an earlier low of 161.94, GBP/JPY is up to 162.92 today, adding 60 pips, or 0.37%, to yesterday's closing price of 162.32.
New United Kingdom GDP improved upon the previous -0.5% figure while also exceeding analyst expectations with a reading of 0.3%.
This move comes while some more positive signs for Pound-Yen are out as highly important Manufacturing Production data from United Kingdom beat analyst expectations of -0.1% with a reading of -0.4%.
On the flip side, highly important GDP data from United Kingdom beat analyst expectations of 0.1% with a reading of 0.3%.
Meanwhile, United Kingdom Monthly GDP 3M/3M Change (Jan) came out at zero, while a consensus of analysts was expecting -0.1.
Other currencies are also rising as USD/SGD increases 0.29% to trade around 1.3569. Having closed the previous session at 1.6486, GBP/CAD is up 0.34% today to currently trade at around 1.6542. Having closed the previous session at 144.06, EUR/JPY is up 0.23% today to currently trade at around 144.39.
Furthermore, the market is looking at Japan CFTC JPY speculative net positions is expected today at 20:30 UTC. United Kingdom NIESR Monthly GDP Tracker scheduled to come out today at 13:00 UTC. United Kingdom CFTC GBP speculative net positions will be released today at 20:30 UTC.
The currency pair has been trending positively for about a month. As things stand, Pound-Yen is 12.25% away from a significant low of 144.6 first set 4 months ago.
