GBP/JPY claws back recent declines, but early week remains thin. UK holiday Monday will see flow return on Tuesday. BoE set to give another rate call on Thursday, broadly expected to hold. UK markets were shuttered for a holiday, and UK order volumes are expected to return at the outset of the Tuesday UK session after a long bank weekend. The Bank of England brings its latest rate call to the table this week, slated for Thursday.
Markets are expecting UK Retail Sales growth for the year to slow to 1.6% from the previous 2.5%. UK Gross Domestic Product are also due this week, and QoQ GDP growth in the UK is expected to rebound to 0.4% in Q1 compared to the previous quarter’s -0.3% decline. GBP/JPY technical outlook The Guppy is slowly rebounding from a recent floor following two back-to-back interventions from the Bank of Japan to intervene on behalf of the badly battered Japanese Yen . The GBP/JPY has declined 4.