Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
25 Mar 2020

GBP/JPY jumps to near 2-week tops, further beyond 1.3300 mark

  • GBP/JPY added to the overnight gains and extended its recovery from multi-year lows.
  • Fading safe-haven demand weighed on the JPY and remained supportive of the move.
  • Fears over an imminent global recession might keep a lid on any strong follow-through.

The buying interest around the British pound picked up pace in the last hour and lifted the GBP/JPY cross to two-week tops, closer to mid-133.00s.

A combination of factors assisted the cross to build on its recent strong recovery move from multi-year lows and gain some follow-through traction for the second consecutive session on Wednesday.

The rebound rebounded after the UK imposed stricter lockdown measures to combat the COVID-19 pandemic and was further supported by Wednesday mostly in line UK consumer inflation figures.

This coupled with improving global risk-sentiment undermined the Japanese yen's safe-haven demand and further contributed to the pair's positive move for the fourth session in the previous five.

Investors' confidence got a strong boost in the wake of the Fed's open-ended/unlimited QE and the US Senate's agreement on a stimulus package to offset any negative impact from the virus outbreak.

Meanwhile, possibilities of some short-term trading stops being triggered on a sustained move beyond the 132.00 round-figure mark further contributed to the pair's strong momentum on Wednesday.

It, however, remains to be seen if bulls are able to capitalize on the move or opt to lighten their positions amid mounting fears over an imminent global recession, which should benefit the JPY's safe-haven status.

Technical levels to watch

 

Mar 25, 2020

Thailand: Massive growth forecast downgrade – ANZ

Today’s rate hold decision follows a 25bp rate cut at an unscheduled meeting on 20 March as well as measures jointly announced by the BoT, Finance Min
Read more Previous
Mar 25, 2020

Singapore: Contraction in economic activity is a given – ANZ

We will get the first official data showing the extent of the COVID-19 economic impact on Q1 growth when Singapore releases its advance GDP estimates
Read more Next