The Pound-Yen pair witnessed a volatile session amid speculation of Japanese authorities' intervention after the latest US inflation report announcement.
GBP/JPY experiences volatility, peaking at 208.11, then dips to 203.82, settling at 204.99. Downward momentum observed; support at 203.25 and 200.16 . Resistance positioned at 205.00 and 205.64 ; breach could signal recovery. The Pound-Yen pair witnessed a volatile session amid speculation of Japanese authorities' intervention after the latest US inflation report announcement. The GBP/JPY traveled 425 pips in the session, hitting a high of 208.11 before plummeting toward 203.82.
The Pound Sterling is issued by the Bank of England . How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
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