The GBP/USD pair rose slightly on Wednesday. However, the pound's gains narrowed in the face of a series of weak UK macroeconomic data.

According to the latest retail sentiment analysis, the outlook for the USD/JPY remains mixed, while the GBP/USD may decline.

In the third quarter, although the euro may recover to some extent, the market remains uncertain due to conflicting concerns about the French election and the Federal Reserve's loose policy.

Although elections in Europe are highly anticipated, the Bank of Japan and the Reserve Bank of Australia will also be the focus as investors consider a possible interest rate hike in the third quarter of 2024.

IG retail trader data shows that 81.43% of traders are net bullish, with a long short ratio of 4.39 to 1.

Currently, traders still hold a bearish attitude towards the Japanese yen against a range of other currencies.