- GBP / JPY remains bid following optimistic data from the UK, with risk.
- The markets encourage the optimism shown by American diplomats.
- The recent doubts about new stimulus measures, the optimistic data on the coronaviruses do not disappoint the bulls.
- Prime Minister Johnson in the intensive care unit, ventilators manufactured abroad are requested, a British data deposit is expected.
Despite the disadvantages of the coronavirus at home, the GBP / JPY remains in the lead while raising the auction to 135.30, up 0.40%, in the middle of the Asian session on Thursday. The pair seem to applaud the optimistic remarks by US President Donald Trump to describe the risk while paying little attention to updates to the coronavirus (COVID-19).
With repeated pressure from US President Donald Trump to gradually restore economic activity, coupled with updates on the tracks to find the cure for the pandemic, the risk tone of the market has prolonged the previous positive sentiment.
That said, yields on 10-year US Treasuries and equity futures are positive, while Japan’s NIKKEI fell 0.30% to 19,300 at the time of publication.
While British Prime Minister Boris Johnson is expected to remain stable in the intensive care unit (ICU), soaring viral data in the country and the expected shortage of home ventilators, The Guardian reports, pessimism to the House.
It should also be noted that the recently unfavorable comments from BOJ Governor Haruhiko Kuroda, citing economic uncertainty and the desire to add easing, further fueled the pair to the north.
Next, the February data file including manufacturing, industrial production and monthly UK GDP figures will offer intermediate indices while viral updates will be key.
A zone comprising the lowest in early March and a 50-day SMA around 137.00-137.15 will question the continued rise of the pair. On the contrary, a three week old uptrend line, at 134.27 now, limits the pair’s short term declines.