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GBPJPY Pound Sterling vs Japanese Yen

-0.5285 (-0.29%)
Last Updated: 15:26:01
Delayed by 15 minutes

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Name Symbol Market Type
Pound Sterling vs Japanese Yen FX:GBPJPY Forex Exchange Rate
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.5285 -0.29% 181.697 181.686 181.708 181.965 181.40799 181.704 0 15:26:01

Yen Falls On U.S. Debt Deal Approval

02/06/2023 7:37am


Sterling vs Yen (FX:GBPJPY)
Forex Chart

From Mar 2023 to Sep 2023

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The yen weakened against its major counterparts in the European session on Friday amid risk appetite, as the U.S. Senate approved a bipartisan deal to address the debt ceiling and implement budget cuts, avoiding a potential U.S. default.

The Senate voted 63-36 to pass the bill on raising the debt ceiling, a day after its approval in the House of Representatives.

Hopes of a pause in the U.S. central bank's policy also boosted sentiment as Philadelphia Federal Reserve President Patrick Harker said the Fed should probably skip raising interest rate at its next policy meeting.

Focus now shifts to the monthly U.S. jobs report due later in the day, which could impact the outlook for interest rates.

Economists expect employment to increase by 190,000 jobs in May after an increase of 253,000 jobs in April. The unemployment rate is expected to inch up to 3.5 percent from 3.4 percent.

The yen fell to 153.76 against the franc and 139.10 against the greenback, off its early highs of 152.88 and 138.60, respectively. The yen is seen finding support around 156.00 against the franc and 145.00 against the greenback.

The yen weakened to a 2-day low of 149.70 against the euro and a 3-day low of 174.23 against the pound, from its early highs of 149.24 and 173.71, respectively. The yen is likely to find support around 153.00 against the euro and 177.00 against the pound.

The yen dropped to a 10-day low of 92.11 against the aussie, 3-day low of 84.83 against the kiwi and more than a 6-month low of 103.64 against the loonie, down from its early highs of 91.11, 84.09 and 103.11, respectively. The next likely support for the currency is seen around 96.00 against the aussie, 86.00 against the kiwi and 107.00 against the loonie.

Looking ahead, U.S. jobs data for May will be released in the New York session.

1 Year Sterling vs Yen Chart

1 Year Sterling vs Yen Chart

1 Month Sterling vs Yen Chart

1 Month Sterling vs Yen Chart
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V: gb D: 20230925 14:41:02