A batch of data is released from UK:
- GDP Q/Q Q4 F: 0.4% vs exp 0.4% vs prior est 0.4%
- Current account (GBP) Q4: -18.4b vs exp -23.7b vs prior -22.8b
- Index of services 3M/3M Jan: 0.6% vs exp 0.6% vs prior 0.6%
- M4 money supply M/M Feb: -0.4% vs exp 1.3% vs prior 1.5%
- Mortgage approvals Feb: 64k vs exp 66k vs prior 66k
There is little reaction to the set of data as expected.
For us, the main question is on when GBP/JPY’s corrective rise from 144.97 would end. Should be about time as it once again lose momentum as it approaches key resistance level at 150.92.