GBP/JPY falls below 180.00, 2-month low

FXStreet (Córdoba) - GBP/JPY dropped further and broke below 180.00 reaching levels not seen in two months. The pair lost 300 hundred pips so far today and almost 3% since the beginning of the current week.

A weak pound, that today also was affected by economic data from the United Kingdom and a strong recovery of the yen across the board amid risk aversion, pushed GBP/JPY sharply to the downside.

The pair bottomed at 179.43, the lowest price since October 31 and remains near the lows, under pressure as short term technical indicators continue to show oversold readings.