Pound/Yen goes down to 151.07 after starting the week at 152.19 (down 0.74%) .
A bearish end to the trading week, currently light red but with no clear-cut direction GBP/JPY trading at 151.07 after ranging this week between 152.85 and 150.31. (Start trading Pound/Yen at FXTM today).
This downslide might be related to financial indicators data published earlier as United Kingdom Consumer Price Index beats expectations of 2.9% with new data release of 3.2%. This is also a step forward from the previous data of 2%. Data for United Kingdom Average Earnings Index +Bonus released Tuesday is better than expected with 8.3, but worse than previous figure of 8.8.
On the flip side United Kingdom Retail Sales released earlier shows an improvement to -0.9% from the preceding data of -2.8%, but falls short of the projected 0.5%. Data for United Kingdom Claimant Count Change (Aug) was released Tuesday suggests a downwards trend with -58,600, while previous data was -48,900.
Meanwhile, United Kingdom Core Retail Sales fall short of the 2.5% projections, with -0.9% and continued its downward trajectory from previous figure of 0.9%.
Outlook for rest of the week: Market will keep its eye on the following upcoming macroeconomics indicators: United Kingdom BoE Interest Rate Decision (Sep) is expected Thursday. United Kingdom's new CBI Industrial Trends Orders (Sep) data will be available Tuesday. Data is expected to decline to 16 from its previous value of 18. United Kingdom BoE MPC vote unchanged (Sep) will be released Thursday.