Skip to main content

GBP/JPY approaching 2023 highs as GBP/USD has a look at 1.23

The pound is still taking advantage of the better than expected UK jobs report and the GBP/USD has just now reached the 1.23 handle again. Now some major news wires were reporting the UK wages as a sign that UK inflation is slowing and I have to take issue with that, because as reported here that was not the case. Wages including bonuses rose by 7.9% from 7.3% and that is not slowing by any measure. I guess these companies just cannot get the staff any more. Anyway the move higher in the GBP/USD has pushed the EUR/GBP lower at the same time and it has also helped to push the GBP/JPY closer to the current 2023 high, at 186.77. The GBP/JPY closed in the US last night at 186.29. It has risen to 186.52 just now. Looking at the chart on this one from a longer-term perspective, the outlook remains firmly tilted to the upside and the trend is clearly upward too. 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!