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Market Mood GBPJPY 12.06.20

Market Mood GBPJPY 12.06.20

Market Mood GBPJPY 12.06.20

in Daily Forecasts

Listen to the latest market mood for the GBPJPY pair.

Weak GBP, Strong JPY

Wall St suffered its worst losses since March yesterday as global equity markets plunged around the world on COVID-19 second wave fears. The GBP should remain pressured today after GDP m/m fell by over 20% on recent data. Furthermore, the UK is expected to rule out any Brexit extension later today. This should keep the GBP pressured on the day. The JPY should remain strong on second wave virus fears as the number of infections has been creeping higher in the US in Texas, California, and Florida. Therefore expect GBPJPY sellers at market and on pullbacks today.

We expect this outlook to play out over the next 6-10 hours through to New York close.

Main Trade Risks

  • The main trade risk is if there is some positive Brexit news that supports the GBP.
  • The other risk is if there is some positive COVID-19 news that will result in the JPY weakening.

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Risk Warnings

Cookies Policy

Disclaimer: Any opinions made may be personal to the author and may not reflect the opinions of HYCM. All expressions of opinion are subject to change without notice. This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by an employee of HYCM, a third party or otherwise. Past performance is not an indication of possible future performance. Without the approval of HYCM, reproduction or redistribution of this information isn’t permitted.

Legal Information: HYCM is the trading name of Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, HYCM Limited and Henyep Capital Markets (DIFC) Limited for which the Henyep Capital Markets group is holding company and its assets are a controlling equity interest in them.

* Cryptocurrencies are not available for trading under HYCM (Europe) Limited and Henyep Capital Markets (UK) Limited (retail clients only).

*Any opinions made in this material are personal to the author and do not reflect the opinions of HYCM. This material is considered a marketing communication and should not be construed as containing investment advice or an investment recommendation, or an offer of or solicitation for any transactions in financial instruments. Past performance is not a guarantee of or prediction of future performance. HYCM does not take into account your personal investment objectives or financial situation. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast, or other information supplied by an employee of HYCM, a third party or otherwise.

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