4 Jul 2013
GBP/JPY Dumps 190 pips
FXstreet.com (London) - GBP/JPY has dropped almost 2 big figures to print a low of 150.29 on BoE keeping rates on hold.
The UK economy, while showing signs of improving, is still an unattractive placement for investors money and until Carney can offer the market his views and monetary outlook, the market is shorting the pound regardless of recently better than expected UK data. That coupled with an improving Japanese economy, the GBP/JPY has corrected into a bear wave. GBP/JPY support comes as 150.15, 149.65 targeting 147.65.
The UK economy, while showing signs of improving, is still an unattractive placement for investors money and until Carney can offer the market his views and monetary outlook, the market is shorting the pound regardless of recently better than expected UK data. That coupled with an improving Japanese economy, the GBP/JPY has corrected into a bear wave. GBP/JPY support comes as 150.15, 149.65 targeting 147.65.