GBP/JPY Remains Under Pressure After Disappointing UK Economic Figures
The GBP/JPY currency pair continues to struggle, currently trading around 193.00 after the release of disappointing economic data from the United Kingdom. The Office for National Statistics reported a contraction of 0.1% in the UK’s Gross Domestic Product (GDP) for October, contrasting with expectations of a 0.1% growth.
This economic setback has led to increased selling pressure on the British Pound against the Japanese Yen. Traders should assess the implications of these figures as they make decisions in the forex market.
Monitoring future data releases will be critical moving forward.
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