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July 03, 2023GBP/JPY is on a bit of a rollercoaster today: spiking to 183.76 only to drop back to 183.22, now rallying again to 183.44.
Pound-Yen is currently trading at 183.44 following the release of Manufacturing PMI data from the United Kingdom.
At the same time, United Kingdom Manufacturing PMI released today at 08:30 UTC with a figure of 46.5, while the previous figure was 47.1. Japan Tankan Big Manufacturing Outlook Index (Q2) came out at nine, while a consensus of analysts was expecting five. Fresh Tankan Large Manufacturers Index (Q2) data from Japan came out at five.
A look at other currencies also shows bullish price action as EUR/JPY is up 0.22%. USD/JPY improves 0.17% to trade around 144.51.
At the same time, after ending Friday's session at 2.0681, GBP/NZD lost 64 pips and is trading around 2.0616.
The market is looking forward to the release of new data: Japan 10-Year JGB Auction is expected tomorrow at 03:35 UTC.
The currency pair has been trending positively for about a month. Pound-Yen now trading 11.52% above its 3-month low of 144.6.
