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May 31, 2023Struggling to find upward momentum, GBP/JPY has shed 31 pips to currently trade at 173.16 as it ranges between 173.13 and 173.65 so far today.
Meanwhile, Japan Industrial Production published yesterday at 23:50 UTC came out at -0.4%, falling short of the 0.5% projections and continuing its decline from the previous 1.1% figure. Following a previous reading of 6.9%, Retail Sales in Japan released yesterday at 23:50 UTC fell short of the 5.8% figure expected by analysts with an actual reading of 5%.
In the meantime, negative performances are seen in other pairs, NZD/USD is down 43 pips from the beginning of the session and now trades around 0.6003. EUR/USD is down to 1.0697, losing 41 pips, after closing at 1.0739 in the preceding trading session.
Positive performances can be seen by looking at other currencies as GBP/NZD is up 0.53%.
Furthermore, United Kingdom Manufacturing PMI is expected tomorrow at 08:30 UTC. United Kingdom Nationwide HPI (MoM) (May) scheduled to come out tomorrow at 06:00 UTC. Japan Capital Spending (YoY) (Q1) is scheduled for today at 23:50 UTC.
After setting a supportive marker at 144.6 around 7 months ago, Pound-Yen is now trading 19.96% higher.
