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June 15, 2023GBP/JPY reached 179.04, breaking a 7 years record. Later, it lost 33 pips and is now trading at 178.7.
Nevertheless, United Kingdom Manufacturing Production released yesterday at 06:00 UTC is better than expected at -0.3% but down from preceding data of 0.7% according to new data.
At the same time, United Kingdom Monthly GDP 3M/3M Change (Apr) came out at 0.1, while a consensus of analysts was expecting -0.1. United Kingdom GDP (YoY) (Apr) released yesterday at 06:00 UTC with a figure of 0.5, while the previous figure was 0.3.
Elsewhere, other currency pairs are also gaining ground as USD/JPY gained 0.9% and is currently trading at 141.24. Having closed the previous session at 151.6, EUR/JPY is up 0.85% today to currently trade at around 152.89. GBP/NZD rallies 0.62% to trade around 2.0523.
Furthermore, the market is looking at Japan BoJ Monetary Policy Statement is expected tomorrow at 03:00 UTC. Japan BoJ Press Conference is scheduled tomorrow at 06:30 UTC. Japan Interest Rate is expected tomorrow at 03:00 UTC. Japan CFTC JPY speculative net positions is scheduled for tomorrow at 20:30 UTC.
The currency pair has been trending positively for about a month. Pound-Yen now trading 9.33% above its 3-month low of 144.6.
