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3 Jul 2014
GBP/JPY breaks above 175.00 to multi-year highs
FXStreet (Córdoba) - The GBP/JPY broke above 175.00 after the release of the US employment report that weakened the Yen across the board, sending the price to levels not seen in years.
The pair peaked at 175.36, the highest since October 21, 2008. Afterwards pulled back slightly and currently trades at 175.22, up 0.29% for the day. The retreated from the highs found support at 175.15.
A strong Pound, a weak Yen
Cable is rising for the fourth day in a row against the Yen. While the USD/JPY is trading back above 102.00 the GBP/USD remains resilient, trading around 1.7150. A strong US dollar did not hurt the GBP/USD favoring the upside in the GBP/JPY.
The pair peaked at 175.36, the highest since October 21, 2008. Afterwards pulled back slightly and currently trades at 175.22, up 0.29% for the day. The retreated from the highs found support at 175.15.
A strong Pound, a weak Yen
Cable is rising for the fourth day in a row against the Yen. While the USD/JPY is trading back above 102.00 the GBP/USD remains resilient, trading around 1.7150. A strong US dollar did not hurt the GBP/USD favoring the upside in the GBP/JPY.