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June 02, 2023After closing at 173.81 yesterday, GBP/JPY began today at 173.93 with significant bullish sentiment driving GBP/JPY's price action higher. So far today, price action has drawn out a distinct 173.7 to 174.16 range.
Meanwhile, United Kingdom Manufacturing PMI came out at 47.1, while a consensus of analysts was expecting 46.9. United Kingdom Nationwide HPI (MoM) (May) released yesterday at 06:00 UTC with a figure of -0.1, while the previous figure was 0.4. Fresh Nationwide HPI (YoY) (May) data from United Kingdom came out at -3.4.
A look at other currencies also shows bullish price action as AUD/USD is up 0.58%. NZD/USD is up 0.39% to 0.6093.
While Pound-Yen is up today, these currencies are lagging behind: EUR/AUD is down to 1.6281, losing 88 pips, after closing at 1.637 in the preceding trading session.
Furthermore, the market is looking at United Kingdom CFTC GBP speculative net positions is scheduled for today at 20:30 UTC. Japan CFTC JPY speculative net positions scheduled to come out today at 20:30 UTC.
Pound-Yen is now trading 20.2% away from its significant low of 144.6 first tested 7 months ago.
