| 
May 18, 2023GBP/JPY weakened earlier in the day, before moving away from its 171.4 low and recovering back to 171.55.
United Kingdom BoE MPC Treasury Committee Hearings is next today at 09:15 UTC.
While price action maintains a negative bias, Japan Trade Balance (Apr) came out at -432.4 billion, while a consensus of analysts was expecting -613.8 billion. Exports in Japan fell short of market expectations (3%) with a reading of 2.6%, continuing the decline from the previous figure of 4.3%. Japan Adjusted Trade Balance released yesterday at 23:50 UTC with a figure of -1 trillion, while the previous figure was -1.21 trillion.
In the meantime, negative performances are seen in other pairs, GBP/NZD is down 61 pips from the beginning of the session and now trades around 1.9931. EUR/NZD closed at 1.7311 (down 0.23%).
Though Pound-Yen has been dropping, other pairs have been performing better: NZD/USD ascends 0.2% to trade around 0.6259.
Furthermore, United Kingdom BoE MPC Treasury Committee Hearings is scheduled for today at 09:15 UTC. Japan Tertiary Industry Activity Index (MoM) will be released tomorrow at 04:30 UTC. Japan National Core CPI (YoY) (Apr) is expected today at 23:30 UTC.
The past 3 months have been positive for Pound-Yen as it added 7.05% compared to its 3-month low of 144.6.
