Pound-Yen ends yesterday stable around 162.57 .
A good end to the trading week, GBP/JPY is up to 162.57, after closing yesterday at zero. Overall, a 0% move or 16,257 pips this week. (Start trading Pound-Yen at FXTM today).
This move comes while some more positive signs for Pound-Yen are out as following a previous reading of 0%, Manufacturing Production in United Kingdom released today at 07:00 UTC fell short of the -0.1% figure expected by analysts with an actual reading of -0.4%.
On the flip side, data for United Kingdom GDP published today at 07:00 UTC came out at 0.3%, beating projections of 0.1% and showing improvement over the preceding figure of -0.5%. Japan GDP released earlier showed a marked improvement to zero from the preceding data of -0.3, but fell short of the 0.2 figure forecast by a consensus of market analysts. Highly important Construction PMI data from United Kingdom beat analyst expectations of 49.1 with a reading of 54.6.
At the same time, United Kingdom Monthly GDP 3M/3M Change (Jan) released today at 07:00 UTC with a figure of zero, while the previous figure was zero.
Outlook for rest of the week: Positive indicators for Pound-Yen are expected going forward as United Kingdom Average Earnings Index +Bonus expected to decline to 5.7 while its preceding data was 5.9, data will be available Tuesday.
The market is looking forward to the release of new data: United Kingdom Claimant Count Change (Feb) scheduled to come out Tuesday. As things stand, upcoming Japan Industrial Production data is projected to fall short of market expectations with newly published data of -4.6%, following on from the preceding figure of 0.3%. New data is set to be published Thursday.
