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June 14, 2023
Currently trading at 176.87, GBP/JPY remains range-bound between 176.44 and 177.14.
Nevertheless, highly important Manufacturing Production data from United Kingdom beat analyst expectations of -0.4% with a reading of -0.3%.
Meanwhile, United Kingdom Monthly GDP 3M/3M Change (Apr) came out at 0.1, while a consensus of analysts was expecting -0.1. United Kingdom GDP (YoY) (Apr) released today at 06:00 UTC with a figure of 0.5, while the previous figure was 0.3.
Other currencies are also rising as NZD/USD added 1.28% to its value, now trading at 0.6229.
At the same time, USD/CHF is down 73 pips from the beginning of the session and now trades around 0.8972. GBP/NZD is trading around 2.0372 (down 130 pips).
Furthermore, the market is looking at Japan Trade Balance (May) will be released today at 23:50 UTC. As things stand, upcoming Japan Exports data is projected to fall short of market expectations with newly published data of -0.8%, following on from the preceding figure of 2.6%. New data is set to be published today at 23:50 UTC. Japan Tertiary Industry Activity Index (MoM) is expected tomorrow at 04:30 UTC.
The currency pair has been trending positively for about a month. Pound-Yen now trading 9% above its 3-month low of 144.6.
