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June 11, 2023After ending Thursday at 174.41, GBP/JPY rallied to 175.54 Friday, hitting its highest point in 7 years. It later lost 19 pips and closed at 175.35.
A look at other currencies also shows bullish price action as USD/CHF added 0.49% and closed around 0.8989 Friday.
While Pound-Yen is up today, these currencies are lagging behind: EUR/NZD drops 0.86% Friday and closed at 1.769. EUR/AUD lost 0.72% Friday and closed at 1.6056.
Also worthy of note, Japan BSI Large Manufacturing Conditions (Q2) is scheduled for tomorrow at 23:50 UTC. United Kingdom BoE MPC Member Mann will be released tomorrow at 14:00 UTC.
The currency pair has been trending positively for about 29 days. Pound-Yen now trading 7.48% above its 3-month low of 144.6.
