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Trading Signals

Pound-Yen gains positive traction for a 4th successive day

11 April 2023

GBPJPY

Pound-Yen trades at 165.87 after gaining 54 pips (0.33%).

At the same time, United Kingdom Mortgage Rate (GBP) (Mar) released today at 09:30 UTC with a figure of 7.22, while the previous figure was 7.02. United Kingdom BRC Retail Sales Monitor (YoY) (Mar) came out at 4.9, while a consensus of analysts was expecting 4.2.

Other currencies are also rising as GBP/NZD rallies 0.77% to trade around 2.0048. EUR/NZD rallies 0.91% to trade around 1.7609.

While Pound-Yen is up today, these currencies are lagging behind: USD/CHF is down to 0.9045, losing 46 pips, after closing at 0.9091 in the preceding trading session.

Furthermore, the market is looking at United Kingdom BoE Gov Bailey speech is scheduled tomorrow at 13:00 UTC. United Kingdom RICS House Price Balance (Mar) scheduled to come out tomorrow at 23:01 UTC.

The currency pair has been trending positively for about 2 months. Having set a significant low of 144.6 6 months ago, Pound-Yen is trading 14.33% higher.

Market Summary

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Bullish currency pair the Kiwi runs out of steam at 0.6187; currently at 0.6187

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The Kiwi is growing its four-day winning streak and is trading at 0.63, gaining 19 pips.

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