GBP/JPY is slowly grinding its way back up the chart after a pair of suspected “Yenterventions” by the Bank of Japan (BoJ), but thus far no official statements have been forthcoming.
GBP/JPY finds fresh highs after “Yenterventions” knocked pair lower. BoE rate call around the corner, UK GDP on Friday. BoE expected to hold rates steady, Gov Bailey speech anticipated. GBP/JPY is slowly grinding its way back up the chart after a pair of suspected “Yenterventions” by the Bank of Japan , but thus far no official statements have been forthcoming.
The BoJ remains tight-lipped on central bank operations to prop up the battered Yen , but BoJ operations reporting shows the Japanese central bank overspent on miscellaneous market operations by around nine billion Yen last week. This Friday will round out the trading week with an update on UK Gross Domestic Product growth. Q1 UK GDP is expected to rebound to 0.4% QoQ after the previous quarter’s -0.3% decline. GBP/JPY technical outlook The Guppy is up around 1.
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