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5/31/2021 12:23:42 AM GMT | By Anil Panchal GBP/JPY seesaws near the lower band of two-day-old trading range. Japan’s Industrial Production, Retail Trade came in mixed. Stimulus hopes battle covid, reflation woes amid a quiet session. Off in UK, US could disappoint momentum traders GBP/JPY extends Friday’s sideways grinds, downbeat of late, around 155.80 as markets in Tokyo kick-start the week’s trading. The risk barometer jumped to the highest since early 2018 on Thursday but cautious sentiment surrounding the British pound (GBP) joins mixed catalysts and the coronavirus (COVID-19) woes from Japan to test the bulls. Recently, Japan’s Retail Trade for March dropped -4.5% versus +1.2% prior MoM but registered a 12% YoY jump compared to 5.2% previous readouts. Further, preliminary readings of April Industrial Production also followed the suit with MoM figures easing below 4.1% forecast and 1.7% earlie ....
The USD/JPY pair hit 110.19 on Friday, its highest since early April, retreating afterwards to close the week with gains in the 109.80 price zone. Th ....
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