Thursday, 14 March 2019 08:44 WIB |
CURRENCIES | Yenpound
GBP/JPY is currently trading at 147.75, having hit a four-month high of 148.73 yesterday.
Sterling picked up a strong bid on Wednesday after the UK lawmakers passed a bill to prevent the UK from leaving the European Union without a deal. The parliament is set to vote today on whether the divorce date should be extended.
With most parliament members wanting to avoid economic uncertainty, the divorce data could be extended. Therefore, GBP/JPY could begin recovering lost ground ahead of the key vote, having shrugged off weak data release in Asia.
The UK house price balance fell to -28 in February, the lowest level since May 2011, according to RICS UK Residential Market Survey. GBP/JPY, however, barely moved in response to dismal data release.