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May 12, 2023Currently trading at 168.43, GBP/JPY remains range-bound between 168.17 and 168.52.
United Kingdom GDP data will be released today at 06:00 UTC, with an expected decline to 0.2%.
Meanwhile, United Kingdom BoE Interest Rate Decision (May) released yesterday at 11:00 UTC with a figure of 4.5, while the previous figure was 4.25. United Kingdom BoE MPC vote hike (Apr) came out at seven, while a consensus of analysts was expecting seven. United Kingdom BoE MPC vote unchanged (Apr) came out at two.
A look at other currencies also shows bullish price action as GBP/NZD added 0.36% to its value, now trading at 1.9925. Having closed the previous session at 1.7322, EUR/NZD is up 0.37% today to currently trade at around 1.7387.
Meanwhile, NZD/USD is down 20 pips from the beginning of the session and now trades around 0.628.
Positive indicators for Pound-Yen are expected going forward as United Kingdom GDP projected to decline to 0.2% while previous data was 0.6%; data will be released today at 06:00 UTC.
Furthermore, the market is looking at United Kingdom GDP is expected today at 06:00 UTC. United Kingdom Monthly GDP 3M/3M Change (Mar) is scheduled for today at 06:00 UTC.
As things stand, Pound-Yen is 1.98% away from a significant high of 171.69, first set 11 days ago.
