- The GBP/JPY got a boost on combining factors including better prospects for Brexit.
- The Bank of England Governor Carney is slated to speak at 19:00 GMT.
The GBP/JPY is trading at about 152.47 up 0.75% as it is trading at weekly highs.
The British pound saw a fresh wave of buying in the London session as the geopolitical turmoil is momentarily taking a breather and the UK's Brexit Secretary David Davis made some encouraging comments about the Brexit. He said that the odds of a “no deal” are very small and he is not foreseeing that the EU-UK divorce will lead to the financial services migrating out of the UK.
The yen is a safe-haven in times of uncertainties. Trump is dialing down his rhetoric as he recently tweeted: "never said when an attack on Syria would take place. Could be very soon or not so soon at all!" Which saw the yen and gold, both safe-haven assets lose value. On Wednesday, President Trump warned Russia to “get ready” as he was planning an airstrike on Syria.
Weakness of Japanese Yen is underlined by ever dovish comments from the Bank of Japan (BoJ) Governor Kuroda. Kuroda said earlier on Thursday that “the BoJ will maintain QQE (Quantitative and Qualitative Monetary Easing) with yield curve control for as long as needed to achieve 2% inflation in stable manner” which comes in-line with current monetary policy guidelines and is not as much as a surprise for the market, however enough to keep the yen from rising in the current environment.
Coming up next in the UK is the Bank of England Governor Mark Carney speech in Toronto, who is scheduled to deliver closing remarks at the Public Policy Forum's Canada growth summit.
GBP/JPY 4-hour chart
Bulls are in control as the pair is headed towards the 153 figure and 154.05 swing high resistances. Support lies at 151.17 and 149.89 swing lows.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.