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29 Dec 2014
GBP/JPY keeps a bid tone, up 0.24% on the day
FXStreet (Guatemala) - GBP/JPY is trading at 187.69, up 0.24% on the day, having posted a daily high at 187.72 and low at 187.17.
The dollar has been the dominant theme leading into the holiday period and it has kept the JPY above the 120 level, supporting the cross in GBP/JPY, despite down from the highs in the 120.80’s last week. The pound is drifting to the upside and bid off the months lows vs the greenback down at 1.5480, however, Sterling lacks momentum and volume vs a better bid dollar at the mid-point of the 1.55 handle keeping the cross from further advances.
The calendar is now even lighter this week for the cross but the cross moves higher and the Yen is weighed upon by a number of disappointing data releases for Japan that came over the holiday season. The industrial production that fell 0.6% and retail sales that was expected to rise but instead, these fell by 0.3% also and the Core CPI fell to 2.7% from 2.9%.
The dollar has been the dominant theme leading into the holiday period and it has kept the JPY above the 120 level, supporting the cross in GBP/JPY, despite down from the highs in the 120.80’s last week. The pound is drifting to the upside and bid off the months lows vs the greenback down at 1.5480, however, Sterling lacks momentum and volume vs a better bid dollar at the mid-point of the 1.55 handle keeping the cross from further advances.
The calendar is now even lighter this week for the cross but the cross moves higher and the Yen is weighed upon by a number of disappointing data releases for Japan that came over the holiday season. The industrial production that fell 0.6% and retail sales that was expected to rise but instead, these fell by 0.3% also and the Core CPI fell to 2.7% from 2.9%.