GBP/JPY pares intraday losses, finds decent support ahead of 156.00 mark By HareshMenghani GBPJPY RiskAppetite Coronavirus Crosses Currencies
The cross extended the previous day's retracement slide from the 157.75 area, or the highest level since October 26 and witnessed aggressive selling on Thursday amid the risk-off impulse. Investors turned risk-averse on Wednesday in reaction to surprisingly hawkish FOMC meeting minutes. This, along with worries about the rapid spread of the Omicron variant weighed on investors' sentiment, benefitted the safe-haven Japanese yen and exerted pressure on the GBP/JPY cross.
This was seen as another factor that prompted some long-unwinding around the GBP/JPY cross amid the continuous rise in new COVID-19 cases in the United Kingdom. That said, hopes that the Omicron outbreak won't derail the UK economy and rising bets for a further policy tightening by theOn the economic data front, the UK Services PMI was finalized at 53.6 in December as against 53.2 estimated.
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