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May 03, 2023GBP/JPY is grinding lower from 170.24 to 170.16, shedding 7 pips (0.04%) today.
Amid the market gloom, United Kingdom Manufacturing PMI came out at 47.8, while a consensus of analysts was expecting 46.6. United Kingdom Nationwide HPI (MoM) (Apr) released yesterday at 06:00 UTC with a figure of 0.5, while the previous figure was -0.7. Fresh Nationwide HPI (YoY) (Apr) data from United Kingdom came out at -2.7.
In the meantime, negative performances are seen in other pairs, USD/CHF closed at 0.8862 (down 0.76%). USD/JPY falls 0.75% to trade around 135.49.
Though Pound-Yen has been dropping, other pairs have been performing better: having closed the previous session at 1.2471, GBP/USD is up 0.69% today to currently trade at around 1.2558.
Furthermore, United Kingdom Services PMI figure is projected at 54.9. It previously stood at 52.9; data will be released tomorrow at 08:30 UTC. United Kingdom Composite PMI is expected tomorrow at 08:30 UTC.
The currency pair has been trending positively for about 2 months. Having set a peak of 171.69 around 2 days ago, Pound-Yen is now trading 0.84% below this level.
