GBP/JPY Gains Momentum Amid Stronger UK Economic Growth

The Pound Sterling (GBP) has been gaining against the Yen (JPY) after revised UK GDP data indicated stronger economic growth than previously estimated.

A positive surprise in the UK current account balance has also improved fiscal appeal and sustained external demand for Sterling.

Analysts expect GBP/JPY to consolidate within a volatility band from ¥208.79 to ¥210.89 over the next 1-2 trading days, with a high up probability of 79% for continued gains.