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March 07, 2023After a mostly steady day, GBP/JPY loses 123 pips late into the session, trading at 162.22.
Highly important Construction PMI data from United Kingdom beat analyst expectations of 49.1 with a reading of 54.6.
Amid the market gloom, United Kingdom Mortgage Rate (GBP) (Feb) released today at 10:30 UTC with a figure of 7.02, while the previous figure was 6.66. United Kingdom House Price Index came out at 1.1%, while a consensus of analysts was expecting -0.3%.
In the meantime, negative performances are also seen in other pairs as AUD/USD is trading around 0.659 (down 145 pips). GBP/USD closed at 1.1832 (down 1.61%).
Though Pound-Yen has been dropping, other pairs have been performing better: USD/CHF gained 1.12% and is currently trading at 0.9414.
Furthermore, Japan GDP is expected tomorrow at 23:50 UTC. Japan Current Account n.s.a. (Jan) will be released today at 23:50 UTC. Japan GDP is projected to outperform its last figure with 0.8%. It previously stood at 0.6%; data will be released tomorrow at 23:50 UTC.
The currency pair has been trending positively for about a month. Having set a significant low of 144.6 4 months ago, Pound-Yen is trading 13.03% higher.
