Stronger-than-expected UK retail sales data support the British pound, halting a six-day losing streak against the yen.
The GBP/JPY pair stabilized around 218.20 in early European trading on Friday, recovering from six consecutive sessions of declines. The British pound found support after UK retail sales figures exceeded expectations, easing concerns over domestic economic weakness.
Prior to the release, the cross had fallen steadily, reflecting broader risk aversion and yen strength. Analysts had anticipated softer consumer spending, but the latest data suggested resilience in the UK economy, providing a temporary lift to sterling.
Markets showed limited reaction beyond the initial stabilization, as traders await further cues on monetary policy and global risk sentiment.