Pound-Yen erases gains after it rallies beyond 172.5 for the first time in 7 years, trading at 171.65

After hitting its highest point in 7 years at 172.5, GBP/JPY dropped by 85 pips and is now trading at 171.65.

Meanwhile, Japan CFTC JPY speculative net positions released today at 20:30 UTC with a figure of -64,800, while the previous figure was -61,000. United Kingdom CFTC GBP speculative net positions released today at 20:30 UTC with a figure of 12,600, while the previous figure was 4,500. Japan Tertiary Industry Activity Index (MoM) came out at -1.7, while a consensus of analysts was expecting 0.3.

In the meantime, negative performances are also seen in other pairs as USD/CHF is down to 0.899, losing 61 pips, after closing at 0.9052 in the preceding trading session. After ending yesterday's session at 138.66, USD/JPY lost 78 pips and is trading around 137.88.

Positive performances can be seen by looking at other currencies as NZD/USD is up 0.78%.

After setting a supportive marker at 144.6 around 7 months ago, Pound-Yen is now trading 18.93% higher.