empty
 
 
en
Support
Instant account opening
Trading Platform
Deposit/Withdraw

10.09.201914:06 Forex Analysis & Reviews: British pound shows strength against the Japanese yen

Long-term review

The revival of demand for safe assets plays into the hands of the Japanese yen paired with the pound and holds back growth, but positive news regarding Brexit may support the British pound. As it turned out, the bulls were not very impressed with the optimistic report on jobs in the UK, and the GBP/JPY pair fluctuates between weak profits and insignificant losses near more than a month high. The pound gained amid positive news and recovered from a multi-year low to 1.3300, primarily due to optimism about Brexit. Recall that the British Parliament passed a law prescribing control over the Brexit program.

Exchange Rates 10.09.2019 analysis

The bulls of this pair were impressed mainly because of the positive data on employment in the UK. Moreover, the prevailing cautious moods provided a slight increase in the relative safe-haven of the Japanese yen and restrained further growth of the pound. The data showed that the average weekly wage in the UK, including bonuses, increased by 4.0% in July compared with the previous month, and the unemployment rate fell to 3.8%. Given these factors, it can be assumed that the pound is likely to feel the recently received positive momentum and conquer a new peak.

Exchange Rates 10.09.2019 analysis

Irina Maksimova,
Analytical expert of InstaSpot
© 2007-2024
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

Can't speak right now?
Ask your question in the chat.