208.368
Today
-0.28%
5 Days
-3.74%
1 Month
-2.21%
6 Months
-1.46%
Year to Date
-1.31%
1 Year
+4.73%
Opening Price
208.778Previous Closing Price
208.964The British Pound (GBP) has resumed its bearish trend against a stronger Japanese Yen (JPY) on Monday, as comments from Japanese officials hinting at a steeper Bank of Japan (BoJ) monetary tightening cycle have provided a fresh boost to the Yen.
The GBP/JPY cross meets with heavy supply during the early part of the European session on Monday and weakens below the 209.00 mark, hitting its lowest level since February 24 amid a broad-based rally in the Japanese Yen (JPY).
The GBP/JPY cross stages a goodish intraday recovery from the vicinity of the 210.00 psychological mark, though it remains on track to register heavy weekly losses.
The GBP/JPY tanks amid speculation of intervention by Japanese authorities in the FX markets, driven by a rate check by Tokyo. The cross-pair drops more than 300 pips, trades at 210.92, down by more than 1.40%.
GBP/JPY extends its steep decline on Thursday as the Japanese Yen (JPY) strengthens sharply across the board for the second consecutive day. The cross fell 1.13% on Wednesday and is down around 1.60% at the time of writing, trading near 210.60, its lowest level in a month.
The GBP/JPY cross remains under intense selling pressure for the second straight day and drops to a three-and-a-half-week low, around the 212.75-212.70 region during the Asian session on Thursday.
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The downside prevails as long as 211.18 is resistance, with 207.77 and 207.28 as targets
above 211.18, look for 212.02 and 212.52.
The downside prevails as long as 211.18 is resistance, with 207.77 and 207.28 as targets
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