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GBP Scores Large Gains Against JPY

M. Ali 15 February, 2021 11:20 pm Forex Market, Market Update

The British Pound (GBP) extended its gains against the Japanese Yen (JPY) on Monday, amid a strong performance by the Sterling and the JPY seeing decreased demand as a safe haven amid increased risk appetite.

The GBP/JPY has scored gains during each of the past four weeks, and today the pair neared its best level since the end of 2019.

The GBP/JPY pair is trading higher for the day by 0.69% at 146.4800.

It has been moving today in a range between 145.3300 and 146.6360.

The GBP is supported by hopes in the United Kingdom (UK) that the fast rollout of vaccines will help ease lockdown measures and enhance economic recovery from the impact of the Coronavirus pandemic.

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