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21 May 2014
GBP/JPY above 171.00, best day in a month
FXStreet (Córdoba) - After four days of moving in small ranges the GBP/JPY had a volatile day and finished hovering around 171.40, at the highest level in a week after having the best day since April 16.
During the Asian session the pair dropped 169.79, reaching the lowest price in five weeks but then bounced sharply to the upside boosted by UK economic data and by the minutes of the Bank of England. On European hours peaked at 171.48, then pulled back but it found support above 171.00.
The pair finished with a gain of 0.46% for the day and 160 pips above daily lows, having the best day in almost a month. The Pound was, among majors, the best performer on Wednesday.
During the Asian session the pair dropped 169.79, reaching the lowest price in five weeks but then bounced sharply to the upside boosted by UK economic data and by the minutes of the Bank of England. On European hours peaked at 171.48, then pulled back but it found support above 171.00.
The pair finished with a gain of 0.46% for the day and 160 pips above daily lows, having the best day in almost a month. The Pound was, among majors, the best performer on Wednesday.