FXStreet (Córdoba) – The pound is falling sharply on Tuesday against the yen suffering the worst daily decline since January. GBP/JPY opened the day trading above 191.00 and currently stands around 189.00, about to post the lowest close since May 25.
The pair bottomed at 188.23 and then managed to stabilize and now is attempting to recover further ground above 189.00 as USD/JPY rises back above 122.40.
JPY boosted by risk aversion
The yen is the best performer in the forex market on Tuesday supported by a decline in the price of shares worldwide and falling government bond yields. The rally of the Japanese currency lost strength during the last hours as stocks in the US trimmed losses.
The pound is falling also versus the Swiss franc and the Euro. It weakened on European hours following the release of manufacturing data from the UK.
(Market News Provided by FXstreet)