Trader reveals why GBP/JPY at 197.70 could make or break your summer portfolio
Key Points
- GBP/JPY is currently at 197.70, with the UK's strong GDP mas...
The GBP/JPY currency pair is currently sitting at 197.70, down from its recent high of 198.81, looking about as decisive as someone staring at a restaurant menu for twenty minutes. While traders are feeling optimistic about that impressive climb, the underlying economic story reads like a tale of two very different cities.
The UK: Looking Good on Paper, Sweating in Reality
Britain's Q1 GDP growth of 0.7% sounds respectable until you peek behind the curtain. The country's current account deficit has ballooned to £23.46 billion, and disposable income is shrinking faster than a wool sweater...
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