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2 Dec 2014
GBP/JPY approaches 187.00
FXStreet (Córdoba) - GBP/JPY broke above previous highs and climbed to 186.91 reaching the strongest level since October 2008. The pair pulled back afterwards but remained above 186.40.
On Monday the 186.35 barrier capped the upside and today after a quiet Asian session broke above and climbed further on the back of a decline of the yen across the board. Currently trades at 186.60, up 0.20% for the day.
The pair is rising for the third day in a row on Tuesday, despite weak economic data from the UK, where the construction PMI fell to 59.4 from 61.0. “Overall, the index remains well above average and should still be seen in that context, but is showing signs of scope for a further slowdown as we move into 2015”, noted analysts from TD Securities Research Team.
On Monday the 186.35 barrier capped the upside and today after a quiet Asian session broke above and climbed further on the back of a decline of the yen across the board. Currently trades at 186.60, up 0.20% for the day.
The pair is rising for the third day in a row on Tuesday, despite weak economic data from the UK, where the construction PMI fell to 59.4 from 61.0. “Overall, the index remains well above average and should still be seen in that context, but is showing signs of scope for a further slowdown as we move into 2015”, noted analysts from TD Securities Research Team.