In a recent article, named, “FxWirePro: Bulls remain in charge of pound despite Brexit and political woes”, available at http://www.econotimes.com/FxWirePro-Bulls-remain-in-charge-of-pound-despite-Brexit-and-political-woes-1024123 , we pointed out that despite Brexit and domestic political trouble the pound bulls are not ready to give in to the bears yet.
And, in a separate article, named, “FxWirePro: Buy yen targeting 108.5 per dollar”, available at http://www.econotimes.com/FxWirePro-Buy-yen-targeting-1085-per-dollar-1022320 we suggested that yen is likely to strengthen to 108.5 per dollar from the then current rate of 112 per dollar, riding on risk aversion.
While both the currencies remain under the influence of the bulls, we expect the bears to be more active in the pound in the short term, which should propel the GBP/JPY pair from the current rate of 147.9 per dollar towards 143 area.
