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May 10, 2023After closing at 170.58 yesterday, GBP/JPY opened today at 170.63, to be greeted by bearish sentiment that overshadowing today's price action. Irrespective of the bearish mood, GBP/JPY retains a distinct 169.55 to 171.18 daily range.
Amid the market gloom, United Kingdom Mortgage Rate (GBP) (Apr) released yesterday at 09:30 UTC with a figure of 7.41, while the previous figure was 7.22. United Kingdom House Price Index came out at 0.1%, while a consensus of analysts was expecting 1.7%. United Kingdom House Price Index came out at -0.3%.
In the meantime, negative performances are seen in other pairs, USD/JPY is down to 134.44, losing 74 pips, after closing at 135.18 in the preceding trading session. EUR/JPY closed at 147.79 (down 0.3%). USD/SGD is down to 1.3244, losing 25 pips, after closing at 1.327 in the preceding trading session.
Furthermore, United Kingdom BoE Interest Rate Decision (May) scheduled to come out tomorrow at 11:00 UTC. United Kingdom BoE MPC Meeting Minutes is scheduled for tomorrow at 11:00 UTC. United Kingdom BoE Gov Bailey speech will be released tomorrow at 11:30 UTC.
The past 3 months have been positive for Pound-Yen as it added 7.03% compared to its 3-month low of 144.6.
