GBP/JPY drifts lower past 181.50 at two-week trough on downbeat yields, UK employment eyed – by anilpanchal7 GBPJPY RiskAppetite YieldCurve BOE BOJ
the cross-currency pair ahead of the UK’s employment figures, scheduled for publishing on early Tuesday.
That said, the US Treasury bond yields remain pressured after reversing from the highest level since March on Monday. It should be noted that the benchmark US 10-year Treasury bond yields printed the first daily loss in July the previous day whereas the two-year counterpart declined for the second consecutive day, to respectively near 4.00% and 4.86%. Governor Andrew Bailey on Monday while showing readiness to take measures to return inflation to its 2% target.
It should be noted that the Bank of Japan officials remain dovish and hence flag fears of the GBP/JPY pair’s recovery, should the UK’s employment data manage to back the recently hawkish BoE talks. Above all, the latest easing inflation data from the UK, US and China tame hawkish central bank concerns but the broad fears of witnessing an economic slowdown keep pushing traders toward the traditional havens, likely the Japanese Yen , Gold and the Treasury bond yields.for three months to May to direct intraday moves.A clear downside break of the 21-DMA support, around 180.00 by the press time, favors the GBP/JPY bears.
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