Pound-yen's momentum has declined near the recent peaks and the price might retreat to local support around ¥181 or slightly above. The most important narrative driving possible further strength by the yen is the Bank of Japan's halting of its previous ceiling of 0.5% for benchmark decade bonds. GBPJPY appears to be in a more favourable place for trading compared to USDJPY or EURJPY.
The most important releases coming up this week are British GDP on Friday, primarily the quarterly figure. Next week traders are looking ahead to Japanese GDP, the British job report and British inflation. Overall, activity in markets generally and for pound-yen specifically might return this month considering the higher volume of important economic data.
The most important releases coming up this week are British GDP on Friday, primarily the quarterly figure. Next week traders are looking ahead to Japanese GDP, the British job report and British inflation. Overall, activity in markets generally and for pound-yen specifically might return this month considering the higher volume of important economic data.