- GBP / JPY appears to be closing for the third day in a row in positive territory.
- The JPY struggles to meet the demand as a safe haven on Monday.
- British Prime Minister Johnson says they want this closure to be the last.
The pair GBP/JPY it extended its rally and closed the fourth consecutive week in positive territory last Friday. With risk appetite forcing the JPY to weaken against its main rivals, the pair continued to climb and touched its best level since December 2019 at 104.65 on Monday. At time of writing, GBP / JPY was up 0.87% on the day at 146.55.
UK’s FTSE 100 and Japan’s Nikkei 225 indices rise on Monday
Reflecting market optimism, Japan’s Nikkei 225 index rose more than 2% on Monday and advanced above 30,000 for the first time since 1990. Similarly, the UK’s FTSE 100 index posted an impressive daily gain of 2.6%.
Meanwhile, British Prime Minister Boris Johnson said on Monday they will set a roadmap out of the lockdown, adding that they want it to be the last.
Earlier in the day, data from Japan showed industrial production declining 1% monthly in December. However, this reading was better than the market’s expectation of a 1.6% decline. Additionally, Japan’s Ministry of Health announced on Sunday that they approved the Pfizer-BioNTech coronavirus vaccine, fueling sentiment earlier in the week.
On Tuesday, the tertiary industry index will be included in the Japanese economic docket. No significant UK macroeconomic data will be released.
Technical levels
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