GBP/JPY for the third

For the fifth straight day, the GBP/JPY has made the largest moves of the major pairs. Today’s movement was only a little over 200 pips. I say only because after hitting its peak on Saturday at 243.97, it’s dropped more than 1000 pips. The pair hit its lowest point today at 231.66 after weaker economic data was released in Britain. Recent downturns in financial markets at the hands of the credit crisis also played were a factor. Continued uncertainty will bring the pair further down as investors grow risk averse.