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
6 May 2020

GBP/JPY downtrend accelerates below 132.00

  • GBP/JPY gaining negative traction after breaking to fresh 6-week lows below 132.00.
  • The pound dives across hit by fears of a strong COVID-19 impact on the UK economy. 
  • Investors hold their breath ahead of Thursday's BoE meeting.

 

The pound has depreciated against the Japanese yen for the fourth consecutive day on Wednesday, increasing its negative momentum after breaking recent lows near 132.00. The pair is accelerating its downtrend on a reversal from last week highs at 135.45, reaching levels nearly 3% lower, right under 131.00.

Pound hurt by the COVID-19 impact in the UK

The sterling has dropped across the board, hitting 6-week lows against the safe-haven yen as the severe impact of the coronavirus is forcing the UK to lag the European countries on easing restrictions.

Furthermore, the UK Constriction PMI has shown that building activity suffered its deepest setback on record in April, exceeding the most negative expectations and heightening fears about a severe economic impact from the pandemic.

The market has reacted selling the pound, especially against safer assets such as the USD and the Japanese yen, with an eye on the Bank of England’s meeting due on Thursday. The BoE is expected to release its quarterly growth forecasts after warning about a deep contraction in the Q2.

GBP/JPY Key levels to watch

 

 

May 6, 2020

AUD/NZD Price Analysis: Bullish trend firm but technicals sign correction ahead

The AUD/NZD pair is about to post the third daily gains in a row. The dominant bullish trend remains in place, but ahead of the Asian session, technic
Read more Previous
May 6, 2020

EUR/USD steadies above 1.0800, looks to close third straight day lower

The EUR/USD pair fell for the third straight on Wednesday as the shared currency continues to have a difficult time finding demand amid the uncertaint
Read more Next