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June 06, 2023GBP/JPY recovering almost all the way back to 173.47 today, after dipping down to 172.83.
Construction PMI data from United Kingdom will be released today at 08:30 UTC with analysts expecting a decline to 51. Potentially significant price fluctuations in Pound-Yen are expected to follow.
While price action maintains a negative bias, United Kingdom Composite PMI released yesterday at 08:30 UTC with a figure of 54, while the previous figure was 54.9. United Kingdom Services PMI came out at 55.2, while a consensus of analysts was expecting 55.1. Japan Household Spending (MoM) (Apr) released yesterday at 23:30 UTC with a figure of -1.3, while the previous figure was -0.8.
In the meantime, negative performances are also seen in other pairs as EUR/AUD drops 0.81% to trade around 1.6055. USD/CAD decreases 0.34% to trade around 1.3395.
Though Pound-Yen has been dropping, other pairs have been performing better: AUD/USD is up 0.9%.
Moreover, United Kingdom Construction PMI expected to decline to 51 while its preceding data was 51.1, data will be available today at 08:30 UTC.
Furthermore, Japan GDP is expected tomorrow at 23:50 UTC. United Kingdom House Price Index figure is projected at -0.9%. It previously stood at 0.1%; data will be released tomorrow at 06:00 UTC.
Having set a peak of 174.22 around 2 days ago, Pound-Yen is now trading 0.43% below this level.
