Pound-Yen set for strong finish this afternoon; up 0.48% to 167.35 with 3 hours before close

GBP/JPY rallies 79 pips (0.48%) deep into the session, trading at 167.35.

Japan BoJ Monetary Policy Statement is next tomorrow at 03:00 UTC.

At the same time, United Kingdom Labour Productivity (Q4) came out at 0.4, while a consensus of analysts was expecting 0.3.

Other currencies are also rising as USD/CHF is up 0.38%.

While Pound-Yen is up today, these currencies are lagging behind: EUR/NZD closed at 1.7944 (down 0.53%). After ending yesterday's session at 1.5048, EUR/CAD lost 59 pips and is trading around 1.4988.

Furthermore, the market is looking at Japan BoJ Monetary Policy Statement is scheduled for tomorrow at 03:00 UTC. Japan BoJ Outlook Report (YoY) will be released tomorrow at 03:00 UTC. Japan BoJ Press Conference is scheduled tomorrow at 05:00 UTC.

The currency pair has been trending positively for about 2 months. Pound-Yen is now trading 15.18% away from its significant low of 144.6 first tested 6 months ago.