GBP/JPY to post lowest weekly close since October

FXStreet (Córdoba) - GBP/JPY failed to rise above 181.00, broke below 180.00 and fell to 179.45, approaching weekly lows that lie at 179.15. A strong yen weakened the pair that lost ground despite the recovery of GBP/USD amid risk aversion.

Bad week for GBP/JPY

The pound is having one of the worst weeks in years against the Japanese currency. The pair is about to end the week 500 pips below the price it had seven days ago, posting the lowest weekly close since October.

It is the second weekly decline in row for GBP/JPY that lost 4% since the beginning of the year.