GBP/JPY was down 0.7% on Friday, falling from above 155.00 to around 154.00. Risk-off flows and weak UK data weakened sterling, while safe haven demand and lower global bond yields strengthened the yen. GBP/JPY fell sharply on Friday and sharp falls in global stocks and commodities weighed on risk-sensitive currencies like sterling, while a sharp fall in global bond yields on safe-haven demand boosted the rate-sensitive yen. Much worse-than-expected UK retail sales for December made matters worse for the GBP and while it wasn’t the worst-performing G10 currency on the day, it fell 0.7% against the yen, which was the […]
