Mar 27, 2013
Forex: GBP/JPY tumbles and tests 143.00
From 143.60, the GBP/JPY erased its gains and spiked to below the 143.00 mark after the release of disappointing data in the UK. The annualized GDP in the UK was actually of 0.2% growth in Q4, instead of the expected 0.3%. The Current Account deficit improved less than expected, from £-15.074B to £-14.037B (consensus at £-12.700B). Not as bad as expected was Total Business Investment, that fell from 3.8% to -0.8% in Q4, beating consensus of -1.2%.
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