GBP/JPY holds steady near July 2008 peak as bulls defend 215.00

GBP/JPY holds near 2008 peak as Hormuz risks weigh on JPY

The GBP/JPY cross trades with a positive bias for the eighth straight day and sits near mid-215.00s, close to the July 2008 swing high during the early European session on Wednesday. Despite hopes of a new round of US-Iran peace talks, investors remain worried about economic headwinds stemming from the instability in the Strait of Hormuz. Given that Japan depends mostly on oil imports from the Middle East, the US blockade of Iran’s ports threate…

GBP/JPY holds steady near July 2008 peak as bulls defend 215.00

The post GBP/JPY holds steady near July 2008 peak as bulls defend 215.00 appeared on BitcoinEthereumNews.com. The GBP/JPY cross reverses an intraday dip to sub-215.00 levels and climbs back closer to its highest level since July 2008 during the early European session on Tuesday. Moreover, the fundamental backdrop backs the case for an extension of the recent move up witnessed over the past two weeks or so. Despite rising economic uncertainties f…