The GBP/JPY cross recovers to near 191.20, snapping the two-day, losing streak during the early European session on Tuesday.
GBP/JPY drifts higher to 191.20 in Tuesday’s early Asian session, up 0.40% on the day. The improved risk sentiment weighs on the safe-haven currency like the JPY. The BoE is expected to keep the rate steady at 5.0% at its September meeting. The sell-off of the Japanese Yen broadlyprovides some support to the cross. Japan’s National Consumer Price Index will be the highlight on Friday.
In a “risk-off” market investors start to ‘play it safe’ because they are worried about the future, and therefore buy less risky assets that are more certain of bringing a return, even if it is relatively modest. What are the key assets to track to understand risk sentiment dynamics? Typically, during periods of “risk-on”, stock markets will rise, most commodities – except Gold – will also gain in value, since they benefit from a positive growth outlook.
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