GBP/JPY remains flat after an eight-day winning streak, trading around 215.60 during the early European hours on Thursday. The currency cross remains close to an all-time high of 215.91, reached on April 15, following the release of the United Kingdom’s (UK) Gross Domestic Product (GDP) data.
The GBP/JPY cross trades with a positive bias for the eighth straight day and sits near mid-215.00s, close to the July 2008 swing high during the early European session on Wednesday.
GBP/JPY rebounds sharply on Monday after a bearish gap-down open, as heightened volatility sweeps across the FX market following joint US-Israeli strikes on Iran over the weekend.