GBP/JPY breaks its five-day losing streak as the Pound Sterling (GBP) strengthens, driven by improved investor confidence following reports that US President-elect Donald Trump's economic team is considering a gradual increase in import tariffs.
GBP/JPY appreciates as market sentiment improves following reports of incoming Trump administration considering a gradual increase in import tariffs. The Japan ese Yen struggles due to ongoing uncertainty regarding the timing of the BoJ’s next rate hike. The Pound Sterling could face challenges due to concerns over stagflation in the United Kingdom.
Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling is the oldest currency in the world and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders , and EUR/GBP .
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