GBP/JPY sellers flirt with the 184.00 round figure during the initial hours of Tokyo open on Thursday. In doing so, the cross-currency pair justifies
Receding fears of higher rates, US-China optimism and concerns about BOJ intervention to weigh on yields.GBP/JPY sellers flirt with the 184.00 round figure during the initial hours of Tokyo opening on Thursday. In doing so, the cross-currency pair justifies the market’s cautious mood ahead of the top-tier data/event while also keeping the previous day’s bearish bias amid downbeat Treasury bond yields and expectations of the Bank of Japan meddling.
On Wednesday, preliminary readings of the UK S&P Global/CIPS Manufacturing PMI dropped to 42.5 for August from 45.3 versus 45.0 market forecasts whereas the Services counterpart also edged lower to 48.7, compared to 50.8 expected and 51.5 marked the previous month. With this, the S&P Global/CIPS Composite PMI for Britain eased to 47.9 for the said month from 50.8 prior and the analysts’ estimations of 50.3.for August improved to 49.7 from 49.6, versus 49.
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