GBP/JPY extends recovery, back close to 140.00 mark

The GBP/JPY cross is seen extending its recovery from lower levels and has now moved back towards 140.00 psychological mark. 

The Japanese Yen seems to trim its sharp appreciating move on possible BOJ intervention to curb extreme volatility and sharp appreciation of the Japanese currency. Meanwhile, BOE also conveyed its readiness to take all necessary steps to meet its responsibilities to bring back monetary and financial stability.

Earlier during Asian trading session, the GBP/JPY cross was butchered to over 5 ½ year low, dropping over 16.5% from session high level of 160.00 mark after Briton's voted to leave the EU in Thursday's historic referendum vote.

The British Pound is also taking support from PM Cameron's assurance that the UK economy is fundamentally strong.