GBP/JPY testing highest bids since August 2008 as Yen flounders. Slumping UK data trims Sterling gains, but GBP march continues. BoE rate call due Thursday, expected to hold rates steady. The Guppy trailed into fresh peaks last week and continues to roil close to the top end despite a near-term knockback below 199.00.
S&P Global Purchasing Managers Index activity figures will round out the UK’s economic calendar this week. The UK Manufacturing PMI is expected to tick up to 51.3 from 51.2, wit the Services component expect to make a similar move, forecast to rise to 53.0 from 52.9. GBP/JPY technical outlook GBP/JPY pulled itself back upwards after a brief dip below the 200-hour Exponential Moving Average at 200.
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