EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Forex News

GBP/JPY Trades with Modest Intraday Gains Around 161.00

Admin by Admin
February 17, 2023
in Forex News
0
GBP/JPY
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter
MMC MMC

The GBP/JPY cross attracts some buying near the 160.50 area on Friday and stalls this week’s pullback from the YTD peak. The cross sticks to its gains around the 161.00 mark through the early European session and for now, seems to have snapped a two-day losing streak.

The Japanese Yen (JPY) weakens across the board amid the uncertainty over the path of monetary policy under new Bank of Japan (BoJ) Governor Kazuo Ueda, which, in turn, lends support to the GBP/JPY cross. Investors have been speculating that Ueda will dismantle the yield curve control easing mechanism.

Any meaningful upside for the GBP/JPY cross seems elusive, at least for the time being, amid expectations that the Bank of England’s (BoE) current rate-hiking cycle might be nearing the end.

The bets were lifted by softer-than-expected UK consumer inflation figures on Wednesday, which might have eased pressure on the UK central bank to tighten its monetary policy more aggressively. This, to a larger extent, offsets the better-than-expected UK Retail Sales figures for January and might hold back bulls from placing fresh bets.

Apart from this, a generally weaker tone around the equity markets – amid looming recession risks – benefits the safe-haven JPY and further contributes to capping the GBP/JPY cross. Hence, it will be prudent to wait for some follow-through buying before positioning for the resumption of the recent positive trend witnessed over the past two weeks or so. Nevertheless, spot prices remain on track to register first weekly gains in the previous three.

Read Also- EUR/USD Risks Deeper Retracement Below the 1.0655

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: Forexgbp/jpy
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

Bitcoin Rises Despite U.S. Crackdown As Crypto Market Gains $84 Billion In Value

Next Post

Canada To Soon Bring In Tougher Rules For Crypto Exchanges

Admin

Admin

Next Post
Robbers Get Prison Sentence for Cryptocurrency Theft in Russia

Canada To Soon Bring In Tougher Rules For Crypto Exchanges

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
Mayowa Owolabi on battles traders need to fight

Battle Every Trader Must Fight (Part 1)- Mayowa Owolabi

August 31, 2022
Virtual stadium in the metaverse

Why Virtual Stadium Can Be the Next Big Thing in the Metaverse

January 26, 2023
EUR/USD pair

EUR/USD Recovers from 20-year Lows

2
What is Initial Coin Offering?

Initial Coin Offering (ICO)

0
What is staking?

Staking

0

Defi (Decentralized Finance)

0
Crypto Influencer Allegedly Threatened Attorney Behind FTX Class Action Suit

Crypto Influencer Allegedly Threatened Attorney Behind FTX Class Action Suit

March 22, 2023
Gisele Bündchen Says She Was Blindsided By Terrible FTX Collapse

Gisele Bündchen Says She Was Blindsided By Terrible FTX Collapse

March 22, 2023
Nvidia Teams Up With Microsoft On Industrial Metaverse

Nvidia Teams Up With Microsoft On Industrial Metaverse

March 22, 2023
CFTC Commissioner Says Congress Must Order Crypto Regulators To Cooperate

CFTC Commissioner Says Congress Must Order Crypto Regulators To Cooperate

March 22, 2023

Recent News

Crypto Influencer Allegedly Threatened Attorney Behind FTX Class Action Suit

Crypto Influencer Allegedly Threatened Attorney Behind FTX Class Action Suit

March 22, 2023
Gisele Bündchen Says She Was Blindsided By Terrible FTX Collapse

Gisele Bündchen Says She Was Blindsided By Terrible FTX Collapse

March 22, 2023
Nvidia Teams Up With Microsoft On Industrial Metaverse

Nvidia Teams Up With Microsoft On Industrial Metaverse

March 22, 2023
CFTC Commissioner Says Congress Must Order Crypto Regulators To Cooperate

CFTC Commissioner Says Congress Must Order Crypto Regulators To Cooperate

March 22, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Forex News
  • Gaming
  • Review
  • Reviews
  • Stocks
  • Uncategorized

Recent News

Crypto Influencer Allegedly Threatened Attorney Behind FTX Class Action Suit

Crypto Influencer Allegedly Threatened Attorney Behind FTX Class Action Suit

March 22, 2023
Gisele Bündchen Says She Was Blindsided By Terrible FTX Collapse

Gisele Bündchen Says She Was Blindsided By Terrible FTX Collapse

March 22, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>