Out of the blue: the 2 currencies no one expected to rise

Even though markets are flat, GBP/JPY and USD/JPY are up and make this list of surprising top currencies gainers.

Markets are mixed with GBP/USD up 0.58%, trading at 1.2567. USD/CAD slipping 0.33% and closing at 1.3547.

This limbo state is reflected by market data published as United States Core PCE Price Index (MoM) (Mar) came out at 0.3, while a consensus of analysts was expecting 0.3.

What are surprising gainers?

Surprising Gainers are low-performing assets that have risen inconsistently with their past behavior and defied their expected daily return, making them surprising. The following list rates assets according to the difference between expectation and actual return: the greater the difference, the higher the rank.

Dollar/Yen | +1.8%; session high: 136.56 session low: 133.33

USD/JPY has rallied 241 pips, or 1.8%, to now stand at 136.31.

Pound-Yen | +2.46%; session high: 171.32 session low: 166.42

Pound-Yen continues a 3 day uptrend, gaining a total of 3.18%. Heading in the same direction for now — Pound-Yen spikes to 171.26 gaining 411 pips.