GBP/JPY bounces to 137.00, off over 5 ½ year lows

The GBP/JPY cross took a sharp u-turn from 160.00 handle and tumbled to its lowest level since Dec. 2012 after UK voters decided to Leave the European Union.

In a historic referendum vote conducted on Thursday, 52% of the Briton's voted to leave the EU after 43 years of association. The British Pound sold-off across the board following an unexpected lead for 'Leave' camp in the closely watched referendum vote. 

The Japanese currency benefited from safe-haven flows, as investors dumped riskier assets on global risk-aversion. 

The GBP/JPY cross dropped to 133.00 level before retracing a bit to currently trade just below 137.00 level after BoJ showed readiness to curb extreme volatility and restrict sharp Yen appreciation. 

Next in focus would be UK PM Cameron and BOE Carney’s speech, later during the day.