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March 11, 2023Yesterday at a glance: GBP/JPY ended Thursday at 162.32. yesterday it went up to 164.24 only to drop back, yet still managed to close at 162.57.
Pound-Yen upside coincides with further encouraging market factors as highly important Manufacturing Production data from United Kingdom beat analyst expectations of -0.1% with a reading of -0.4%.
Nevertheless, United Kingdom GDP beat analyst expectations of 0.1% and the previous reading of -0.5% with new data of 0.3%.
Meanwhile, United Kingdom Monthly GDP 3M/3M Change (Jan) came out at zero, while a consensus of analysts was expecting -0.1.
A look at other currencies also shows bullish price action as notably, GBP/USD rose 0.92% yesterday and closed at 1.1923. GBP/CAD went up by 0.89% yesterday, and closed at 1.6633.
While Pound-Yen is up today, these currencies are lagging behind: after ending yesterday's session at 0.9325, USD/CHF lost 111 pips and is trading around 0.9213.
Elsewhere, Japan BSI Large Manufacturing Conditions (Q1) is scheduled for tomorrow at 23:50 UTC.
The currency pair has been trending positively for about a month. Having set a significant low of 144.6 5 months ago, Pound-Yen is trading 12.25% higher.
