While the Japanese Yen (JPY) exchange rates have been fairly resilient compared to other safe haven currencies, it is still falling against the Pound Sterling (GBP) this week as the British Pound to Japanese Yen (GBP/JPY) exchange rate sees a big rebound in demand. As there could be a Brexit deal any day now, the Pound is likely to keep seeing sudden sharp movements as volatility will persist until an outcome is clearer.
Last week’s rise in no-deal Brexit fears knocked GBP/JPY from 139.98 to 137.57 throughout the week, meaning the pair lost a considerable two Yen.
This week so far though, returning Brexit deal hopes have helped GBP/JPY to recover most of those weekly losses.
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