9 Jul 2014
GBP/JPY hovering below 174.00
FXStreet (Córdoba) - The GBP/JPY lost ground for the third day in a row and finished hovering around 173.95, 50 pips below the price it had at the beginning of the day.
The Pound weakened in the market following the release of industrial production data from the United Kingdom while the Yen gained momentum amid risk aversion and rising US government bonds.
At the beginning of the American session the GBP/JPY bottomed at 173.71, hitting the lowest price in a week and then bounced slightly to the upside, but it was unable to rise above 174.00.
The Pound weakened in the market following the release of industrial production data from the United Kingdom while the Yen gained momentum amid risk aversion and rising US government bonds.
At the beginning of the American session the GBP/JPY bottomed at 173.71, hitting the lowest price in a week and then bounced slightly to the upside, but it was unable to rise above 174.00.