GBP/JPY found a new 16-year high of 200.95 on Wednesday, with Guppy bidders shrugging off a steep miss in UK manufacturing activity as the Yen continues to weaken across the board. UK Manufacturing Production saw its sharpest drawdown since 2021, declining -1.4% MoM in April and completely missing the forecast -0.2% contraction from the previous month’s scant 0.3% growth. GBP traders shrugged off the downside print in UK manufacturing activity to bid the Sterling higher against the Yen, clipping into a 16-year peak before slipping back slightly amidst broad-market flows. Yen markets are pivoting to face the Bank of ... (full story)