GBP/JPY drops to 185.20 and rebounds sharply

FXStreet (Córdoba) - GBP/JPY broke below 187.10 and plummeted to 185.18, losing almost 200 pips in a few minutes, and reached the lowest price in a week. Afterwards rebounded and rose sharply above 186.00.

Currently the pair is trading at 186.60/70, down more than 1% for the day so far. Despite the recovery is still losing more than 200 pips from yesterday’s closing price.

The pound is the weakest on Tuesday among European currencies while the yen is rising sharply across the baord, making a strong correction amid risk aversion.