GBP/JPY hovering around 190.00

FXStreet (Córdoba) – GBP/JPY is trading unchanged for the day around 190.00 after posting yesterday the highest close since October 2008.

GBP weak after UK data, but downside limited

The pound lost strength across the board after the release of a weaker than expected second reading of GDP growth during the first quarter. GBP/JPY peaked on Asian hours at 190.70 and after the data started to retreated and bottomed at 189.51. From there it bounced to the upside, rising toward the 190.00 area.

The pair has been moving sideways during the last hours, hovering around 190.00, consolidating monthly and weekly gains. The yen has been the worst performer among major during the week and the rise of USD/JPY above 122.00, boosted GBP/JPY to break the key 190.00 resistance.

GBP/JPY is trading unchanged for the day around 190.00 after posting yesterday the highest close since October 2008.


(Market News Provided by FXstreet)