After starting the day at 136.02, Pound/Yen drifts to 135.51 (down 51 pips)
GBP/JPY remains in the 135.51 range after starting the session at 136.02 and dropping 51 pips.
Nonetheless, encouraging indicators for Pound/Yen published earlier when United Kingdom Money Supply released earlier shows an improvement to -46 from the preceding data of -58, but falls short of the projected -38.
Taking a wider perspective, performance of these other symbols usually suggest a setback for Pound/Yen as Euro/Pound is trading around 0.91 after starting the session at 0.904 (down 0.66%).
Positive performance can be seen looking at other symbols as British Pound is up 1.13% (142 pips) to 1.28 levels.
Pound/Yen is trading around 136.08 after starting the day at 136.37 (down -0.21%)
GBP/JPY remains in the 136.08 range after starting the session at 136.37 and dropping 28 pips.
Nonetheless, encouraging indicators for Pound/Yen published earlier when United Kingdom Money Supply released earlier shows an improvement to -46 from the preceding data of -58, but falls short of the projected -38. Japan Purchasing Managers Index released Wednesday 12:30 AM with a figure of 45.2, this is better from previous number of 45.0.
Taking a wider perspective, performance of these other symbols usually suggest a setback for Pound/Yen as Euro/Pound is trading around 0.91 (up 60 pips).
Positive performance can be seen looking at other symbols as Sterling gained 0.34% (42 pips), reaching 1.27 levels.
Market will keep its eye on United Kingdom Purchasing Managers Index set for tomorrow at 8:30 AM.
Pound/Yen goes back up to Jun, 10 levels, reaching 136.38
GBP/JPY gains 52 pips and hovers at 136.36 level.
This move comes while some more positive signs for Pound/Yen are out as Japan Purchasing Managers Index released today at 12:30 AM with a figure of 45.2, this is better from previous number of 45.0. United Kingdom 30-Year Treasury Gilt Auction released Tuesday 10:45 AM with a figure of 0.683%, this is better from previous number of 0.668%.
Despite this, other data released earlier might suggest a different path as Data for United Kingdom Public Sector Net Borrowing (Jun) was released Tuesday 6:00 AM is better than expected with 34.80B, but worse than previous figure of 44.47B.
A look at other markets shows behavior that usually indicate a green move for Pound/Yen as British Pound gained 1.11% (140 pips), reaching 1.27 levels.
In the meantime, interesting moves noted when With no major change Euro/Pound is trading around 0.91.


Pound/Yen rallies beyond 135.87 for the first time in 5 weeks
Hesitant but green: from an earlier low of 135.79, GBP/JPY up to 135.79 gaining 6 pips compared to the 135.72 start of the day (0.05%).
This limbo state for Pound/Yen is reflected by market data published as Data for United Kingdom Public Sector Net Borrowing (Jun) was released today at 6:00 AM is better than expected with 34.80B, but worse than previous figure of 44.47B. Data for United Kingdom Public Sector Net Cash Requirement (Jun) was released today at 6:00 AM suggests a downwards trend with 44.033B, while previous data was 71.436B.
Meanwhile, mixed performance are seen elsewhere as Sterling made some headway from 1.256 to 1.27 (1.11%, 140 pips). With no major change Euro/Pound is trading around 0.91.
Data to be released later might clear up some of the fog for Pound/Yen as Japan Purchasing Managers Index set for tomorrow at 12:30 AM.
Pound/Yen goes back up to Jun, 10 levels, reaching 135.75
GBP/JPY gains 126 pips and hovers at 135.71 level.
Pound/Yen green move comes while some more encouraging signs are out as Japan Trade Balance released earlier shows an improvement to -268.8B from the preceding data of -838.2B, but falls short of the projected -35.8B. Japan Exports released earlier shows an improvement to -26.2% from the preceding data of -28.3%, but falls short of the projected -24.9%.
A look at other markets shows behavior that usually indicate a green move for Pound/Yen as Euro/Pound went down to 0.9 (98, pips). British Pound made some headway from 1.2571 to 1.27 (1.03%, 128 pips).
Traders might want to keep an eye for a setback as United Kingdom Public Sector Net Borrowing (Jun) looks to be getting worse with an expected 34.30B while preceding figure was 54.50B, new data will be out tomorrow at 6:00 AM.