The Yen hit fresh lows against sterling this week, hitting levels that have not been seen since 2008, as the British currency rose by 2%. Data from Japan has not been negative however – it has just been difficult for any currencies to keep up with the continuing strength of sterling. Today is an important day for the Japanese, data wise, as we see the release their monthly monetary policy statement. More bad news for Japan could see the Yen rise to 200 against the pound!
Sterling steadily rose against Swiss Franc this week. A fight back midweek saw the Franc strengthen by 1% against the GBP, only to watch it’s precious ground gained be slowly eaten away by strong sterling data for the remainder of the week.
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