27 Jun 2013
GBP/JPY has dropped session gains
FXstreet.com (London) - GBP/JPY had been performing well until poor UK data has seen a market dump the pound.
GBP/JPY lower on UK GDP
GDP came in at 0.3% vrs 0.6% yoy and expectations of 0.6%. Month on month were in line. There has also been a widening of the Current Account. A jittery market place and UK fundementals has seen the pound shed multi pair gains across the board and GBP/JPY has been no exception. The pair had climbed from below 149.30 to reach 150.60 levels, but has shed 50% of those gains on the numbers to find support again at 149.80.
GBP/JPY lower on UK GDP
GDP came in at 0.3% vrs 0.6% yoy and expectations of 0.6%. Month on month were in line. There has also been a widening of the Current Account. A jittery market place and UK fundementals has seen the pound shed multi pair gains across the board and GBP/JPY has been no exception. The pair had climbed from below 149.30 to reach 150.60 levels, but has shed 50% of those gains on the numbers to find support again at 149.80.