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GBP/JPY below 173.00, 1-month low

FXStreet (Córdoba) - GBP/JPY fell below the key short term support located at 173.40/50 (Oct 6, 7 low) and tumbled to 172.73, reaching the lowest price in a month.

The yen is soaring in the market amid risk aversion as equities worldwide decline sharply. Cable is the worst performer among European currencies.

GBP/JPY extends reversal

Since the beginning of the month the pair has fallen in six out of the eight trading days, moving further away from multi-year highs. In September the pair climbed momentarily above 180.00. Afterwards made a reversal that has accelerated during the current week.

From September highs it has fallen more than 750 pips and currently the pair is back to the levels it had at the beginning of September but still above the lows of that month that lie at 169.20/30.

India Industrial Output dipped from previous 0.5% to 0.4% in August

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