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USD/JPY Nears 160 Yen: Will the Pound React to U.K. GDP Data?

Market Report

USD/JPY Nears 160 Yen: Will the Pound React to U.K. GDP Data?

12.11.2026 New

Today's Highlights
  1. Preliminary UK GDP Figures for July–September
  2. U.S. Initial Unemployment Insurance Claims

In the U.S. currency market the previous day, the U.S. dollar saw broad-based buying amid a stronger-than-expected U.S. October CPI reading and hawkish comments from Federal Reserve officials. The dollar rose against the yen from around 158.67 yen to around 159.94 yen, closing at around 159.79 yen.Although the U.S. bond market was closed for Veterans Day, the previous day’s rise in U.S. interest rates and expectations of further rate hikes supported the dollar. The U.S. dollar was the strongest among the eight major currencies, and selling pressure emerged when the pair approached the 160-yen level. Today, we will be watching U.S. initial jobless claims and the market’s reaction following the reopening of the bond market.

European currencies weakened against the dollar despite gains in European stocks. The euro fell from around $1.1170 to around $1.1083 and closed at around $1.1090.The euro/yen pair remained largely flat at around 177.21 yen, as the euro’s weakness was offset by the yen’s weakness. The pound/dollar pair also fell to around $1.3275, while the pound/yen pair dropped to around 211.51 yen at one point before closing at around 212.07 yen.With the release of preliminary GDP figures scheduled for today in the UK, attention may shift from U.S. dollar-driven price movements to factors specific to the pound.

Today’s economic indicators include the release of the preliminary UK GDP figures for the July–September quarter at 4:00 p.m., which showed a 0.7% increase quarter-over-quarter and a 1.9% increase year-over-year, in line with market expectations.In the U.S., initial jobless claims are scheduled for release at 10:30 p.m., with forecasts at 195,000; the previous reading was 189,000. A speech by ECB President Lagarde is also scheduled for 4:30 a.m. on the 13th.Amid the ongoing strength of the dollar, we will be watching for shifts in currency strength driven by UK economic indicators and U.S. employment data.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management with a particular focus on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

Previous Article

Dollar Strengthens on U.S. CPI Data; Will the Euro/Dollar Pair Test Support in the $1.11 Range?
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