{"id":3064,"date":"2013-07-30T22:16:55","date_gmt":"2013-07-30T22:16:55","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=3064"},"modified":"2014-02-23T23:23:57","modified_gmt":"2014-02-23T23:23:57","slug":"gbpjpy-posts-fresh-two-week-lows-on-pound-sterling-weakness","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/gbpjpy-posts-fresh-two-week-lows-on-pound-sterling-weakness\/","title":{"rendered":"GBP\/JPY posts fresh two-week lows on pound sterling weakness"},"content":{"rendered":"<p><a href=\"https:\/\/plus.google.com\/111687047260609547765\/posts\"><b>Sinduja Venkat<\/b><\/a><\/p>\n<p>Good morning and welcome to today\u2019s\u00a0foreign exchange market commentary on 30th\u00a0of July.<b>\u00a0<\/b><\/p>\n<p><b>Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights:<\/b><\/p>\n<ul>\n<li>GBP\/JPY posts fresh two-week lows on pound sterling weakness<\/li>\n<li>EUR\/USD up for volatility ahead of central bank meets<\/li>\n<li>USD emerges winner against peers<\/li>\n<li>Japanese indicator reflects that inflation is not working<\/li>\n<li>RBA Rate cut is twice as likely before year end<\/li>\n<\/ul>\n<p><b>CURRENCY RATES OVERVIEW\u00a0<\/b><\/p>\n<p><b>GBP\/EURO \u2013\u00a0<\/b>1.1562<br \/>\n<b>GBP\/USD \u2013\u00a0<\/b>1.5325<br \/>\n<b>GBP\/CHF \u2013\u00a0<\/b>1.4282<br \/>\n<b>GBP\/CAD \u2013\u00a0<\/b>1.5748<br \/>\n<b>GBP\/AUD \u2013\u00a0<\/b>1.6869<br \/>\n<b>GBP\/ZAR \u2013\u00a0<\/b>15.0632<br \/>\n<b>GBP\/JPY \u2013\u00a0<\/b>150.6828<br \/>\n<b>GBP\/HKD \u2013\u00a0<\/b>11.8873<br \/>\n<b>GBP\/NZD \u2013\u00a0<\/b>1.917<br \/>\n<b>GBP\/SEK \u2013\u00a0<\/b>9.9265<\/p>\n<p><i>Mid-market rates as of 2013-07-24 16:00 UTC<\/i><\/p>\n<p><b>Key releases in the next 24 hours that may affect currency date:<\/b><\/p>\n<p><b>Australia:\u00a0<\/b>AUD Building Approvals (YoY) (JUN), RBA Governor Glenn Stevens Speaks in Sydney<br \/>\n<b>Europe:\u00a0<\/b>EUR German GfK Consumer Confidence Survey (AUG), EUR Spanish GDP (QoQ) (2Q A), EUR Spanish GDP (YoY) (2Q A), EUR Euro-Zone Consumer Confidence (JUL F), EUR German Consumer Price Index &#8211; EU Harmonised (YoY) (JUL P), EUR German Consumer Price Index (YoY) (JUL P), EUR German Consumer Price Index &#8211; EU Harmonised (MoM) (JUL P), EUR German Consumer Price Index (MoM) (JUL P)<br \/>\n<b>United Kingdom:\u00a0<\/b>GBP GfK Consumer Confidence Survey (JUL)<br \/>\n<b>New Zealand: <\/b>No Data<br \/>\n<b>United States of America:\u00a0<\/b>USD Consumer Confidence (JUL)<br \/>\n<b>China:<\/b> No Data<br \/>\n<b>Canada:<\/b> No Data<br \/>\n<b>Japan:\u00a0<\/b>JPY Small Business Confidence (JUL), JPY Nomura\/JMMA Manufacturing Purchasing Manager Index (JUL)<\/p>\n<p><b>GBP\/JPY posts fresh two-week lows on pound sterling weakness<\/b><\/p>\n<p>The GBP\/JPY pair was last observed trading at 149.40, off recent session highs at 149.54, once the cross has stalled the decline during late NY trading posting fresh 2-week lows at 149.17 owing to the Pound Sterling\u2019s weakness. Analysts indicate that three successive days of strong decline is now threatening the daily support levels for the pair. GBP\/JPY is down -1.15 per cent as of now.<\/p>\n<p><b>EUR\/USD up for volatility ahead of central bank meets<\/b><\/p>\n<p>The EUR\/USD pair is expected to drift lower this week. The central bank decisions of the Fed, the ECB and the Bank of England are all due to be released on Wednesday and Thursday, and this is expected to strengthen the USD and to weaken the euro. However, before the release the market remains blocked. The consumer confidence in the US was unable to move the exchange rate before the key events of the week.<\/p>\n<p><b>USD emerges winner against peers<\/b><\/p>\n<p>On Tuesday the US Dollar emerged winner of the session against its major competitors with EUR\/USD at 1.3260, USD\/JPY at 98.00 and the USD\/CHF at 0.9300 were moving sideways while against the Aussie and the Canadian, the USD posted respectful profits on the day. Investors continue to remain focused on the &#8216;new&#8217; US GDP index to be released on Wednesday and the widely expected FOMC monetary policy release.<\/p>\n<p><b>Japanese indicator reflects that inflation is not working<\/b><\/p>\n<p>The Japanese Ministry of Health, Labour and Welfare released the Labor Cash Earnings (YoY) (Jun) on Tuesday, which stood at +0.1% vs 0.2% exp and 0% last. The indicator is followed up by the Bank of Japan to gauge whether or not inflation is working through the economy by an increase in wages. The indicator reflected that the downbeat trend in earnings is deflationary for the Japanese economy.<\/p>\n<p><b>RBA Rate cut is twice as likely before year end<\/b><\/p>\n<p>According to NAB, the RBA is expected to cut twice more before year-end, the first rate reduction coming on August 6th, while the second is most likely to occur in November after the Q3 CPI although it could be earlier.<\/p>\n<p><i>Going on holiday? Compare travel money deals with our sister site mytravelmoney.co.uk<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sinduja Venkat Good morning and welcome to today\u2019s\u00a0foreign exchange market commentary on 30th\u00a0of July.\u00a0 Here are MyCurrencyTransfer.com\u2019s top 5 currency highlights: GBP\/JPY posts fresh two-week lows on pound sterling weakness EUR\/USD up for volatility ahead of central bank meets USD emerges winner against peers Japanese indicator reflects that inflation is not working RBA Rate cut is twice as likely before [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":3881,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[110,3],"tags":[],"_links":{"self":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/3064"}],"collection":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/comments?post=3064"}],"version-history":[{"count":1,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/3064\/revisions"}],"predecessor-version":[{"id":3067,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/3064\/revisions\/3067"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media\/3881"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=3064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=3064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=3064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}