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.
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.
Octa trading broker
Open trading account
Back

GBP/JPY clings to gains near daily tops, eyeing a move beyond 137.00 mark

  • GBP/JPY gained strong traction on Monday in reaction to Gove’s optimistic remarks.
  • The prevalent risk-on mood undermined the safe-haven JPY and remained supportive.
  • Monday’s key focus will be on headlines coming out of the Barnier- Frost meeting.

The GBP/JPY cross refreshed daily tops during the early European session, with bulls now looking to build on the momentum beyond the 137.00 mark.

The cross caught some aggressive bids on the first day of a new trading week and build on the previous session's intraday bounce from two-week lows, around the 135.40 region. The British pound got a strong boost in reaction to optimistic comments by the UK's Brexit minister Michale Gove, saying that the door is "still ajar" for post-Brexit talks to continue with the European Union.

Gove's comments largely offset the UK Prime Minister (PM) Boris Johnson's remarks on Friday, saying that Britain needs to get ready for leaving the EU with no trade deal. This, in turn, prompted traders to unwind their bearish GBP bets. Meanwhile, Johnson's spokesman had said that talks with the EU were over unless there is a fundamental change of position from the EU.

Hence, the focus now shifts to a meeting between the EU's chief negotiator Michel Barnier and his UK counterpart, David Frost, later this Monday. The incoming Brexit-related headlines will continue to play a key role in driving the sentiment surrounding the sterling and infuse some intraday volatility around the GBP/JPY cross amid absent relevant market-moving economic data.

On the other hand, the prevalent risk-on mood – amid reviving hopes for additional US fiscal stimulus measures – undermined the Japanese yen's safe-haven demand and remained supportive of the bid tone surrounding the GBP/JPY cross. That said, bulls might still need to wait for some follow-through buying beyond the 137.20-30 supply zone before positioning for any further gains.

Technical levels to watch

 

AUD/USD: Potential RBA rate cut overshadows resilient Australian data

Australian upbeat data was overshadowed by RBA’s Governor Lowe hinting more stimulus. Mounting tensions between Canberra and Beijing could put extra w
Read more Previous

WTI retreats from monthly highs near $41.50 ahead of OPEC+ meeting

WTI (futures on NYMEX) is off the monthly highs of $41.47, posting small losses around the $41 level, as investors look to take profits off the table
Read more Next