The GBP/JPY recovers and rallies for the second straight day, is up 0.43%, trades at 196.59, shy of reclaiming the 197.00, poised to finish the week with gains of over 0.40%. Market mood remains sour, but it was not an excuse for buyers to lift the cross-pair to fresh three-day highs.
Pound Sterling (GBP) is up a modest 0.2% vs. the US Dollar (USD) and outperforming nearly all of the G10 currencies in an environment of mild USD weakness, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
GBP/JPY holds ground for the second successive day, trading around 195.90 during the Asian hours on Friday. The currency cross has trimmed its daily gains after the weaker-than-expected Retail Sales data released from the United Kingdom (UK).