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May 16, 2023GBP/JPY drops from 170.45 to 169.66, losing 78 pips (0.46%) today.
United Kingdom Average Earnings Index +Bonus hits expectations with new data of 5.8.
While price action maintains a negative bias, United Kingdom Claimant Count Change (Apr) came out at 46,700, while a consensus of analysts was expecting 31,200. New United Kingdom Average Earnings Index +Bonus data was unchanged from the previous month and matched analyst projections of a reading of 5.8. United Kingdom Employment Change 3M/3M (MoM) (Mar) released today at 06:00 UTC with a figure of 182,000, while the previous figure was 169,000.
In the meantime, negative performances are also seen in other pairs as GBP/USD is down to 1.2475, losing 50 pips, after closing at 1.2525 in the preceding trading session.
Though Pound-Yen has been dropping, other pairs have been performing better: having closed the previous session at 0.8678, EUR/GBP is up 0.37% today to currently trade at around 0.871. EUR/AUD improves 0.41% to trade around 1.6298.
In addition, Japan GDP is projected to outperform its last figure with 0.1, having previously been at zero. The figure will be published today at 23:50 UTC.
Furthermore, United Kingdom BoE Gov Bailey speech is expected tomorrow at 09:50 UTC. Japan GDP is projected to outperform its last figure with 0.7%. It previously stood at 0.1%; data will be released today at 23:50 UTC.
Having established significant support at 144.6 approximately 7 months ago, Pound-Yen's share price has bounced 17.87% higher.
