GBP/JPY extended into further losses on Tuesday as the Japanese Yen continues a broad-base recovery sparked by a series of “Yenterventions” by the Bank of Japan (BoJ) and Japan’s Ministry of Finance (MoF) to try and prop up the beleaguered Yen.
GBP/JPY followed other Yen pairs lower on Tuesday. The Yen is extending a near-term recovery after successive “Yenterventions”. Key UK and Japanese economic data due in the back half of the trading week. GBP/JPY extended into further losses on Tuesday as the Japanese Yen continues a broad-base recovery sparked by a series of “Yenterventions” by the Bank of Japan and Japan’s Ministry of Finance to try and prop up the beleaguered Yen.
July is on pace to snap a six-month winning streak for the Guppy that saw the pair rise nearly 16.5% bottom-to-top. However, Yen bulls will still have their work cut out for them as the pair remains buried deep in bull country. GBP/JPY hourly chart GBP/JPY daily chart Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen is one of the world’s most traded currencies.
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