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April 14, 2023GBP/JPY reached 166.85, breaking a 3 months record. Later, it lost 80 pips and is now trading at 166.05.
Uptick comes while some more positive signs for Pound-Yen are out as United Kingdom GDP published yesterday at 06:00 UTC came out at 0%, falling short of the 0.1% projections and continuing its decline from the previous 0.4% figure. United Kingdom Manufacturing Production released earlier showed a marked improvement to 0% from the preceding data of -0.1%, but fell short of the 0.2% figure forecast by a consensus of market analysts.
At the same time, United Kingdom Monthly GDP 3M/3M Change (Feb) came out at 0.1, while a consensus of analysts was expecting zero.
Other currencies are also rising as USD/SGD is up 0.18%. NZD/USD gained 0.19% and is now trading at 0.631.
Other currencies are showing mixed performance as EUR/JPY trades close to 146.57, with no major change.
Also worthy of note, Japan CFTC JPY speculative net positions will be released today at 20:30 UTC. United Kingdom Labour Productivity (Q4) is scheduled for today at 08:30 UTC. United Kingdom MPC Member Tenreyro speech scheduled to come out today at 15:30 UTC. United Kingdom CFTC GBP speculative net positions is expected today at 20:30 UTC.
The currency pair has been trending positively for about 2 months. Having set a significant low of 144.6 6 months ago, Pound-Yen is trading 14.8% higher.
