The GBP/JPY cross holds positive ground for three straight days during the Asian session on Friday. Meanwhile, the cross currently trades near 182.57,
Earlier Friday, the Statistics Bureau of Japan reported that the headline Tokyo Consumer Price Index for September eased to 2.8 YoY from 2.9% in the previous reading. Meanwhile, the Tokyo CPI ex Fresh Food, Energy came in at 3.8% YoY from 4.0% in August. Additionally, Tokyo CPI ex Fresh Food eased from 2.8% to 2.5% for the said month compared to analysts’ estimations of 2.6%.
On the UK’s front, market players await the UK’s Gross Domestic Product for the second quarter for fresh impetus. The quarterly and yearly growth number is expected to remain at 0.2% and 0.4%, respectively. Following the Bank of England's surprising pause in its rate-hiking cycle earlier this month, the initial market response to a positive surprise is more likely to remain limited.
Looking ahead, market participants will keep an eye on the UK’s Gross Domestic Product for Q2. Traders will take cues from these figures and find trading opportunities around the GBP/JPY cross.
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