The GBP/JPY cross remains under selling pressure around 196.65 during the early European session on Thursday.
GBP/JPY attracts some sellers near 196.65 in Thursday’s early European session, down 1.0% on the day. The combination of a risk-off mood and rising bets on the BoJ rate hike supports the JPY. The BoE is anticipated to cut the bank rate to 5% at its August meeting next week. The beginning of a risk-off mood leads to more safety flows in broader markets, including the Japanese Yen . S&P 500 futures weredown 0.
Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.
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