The GBP/JPY cross loses ground around 197.75 during the early European session on Friday.
GBP/JPY trades in negative territory for the sixth consecutive day near 197.75 in Friday’s early European session. The increase in Japan’s Tokyo core CPI inflation maintains the possibility of a BoJ rate hike next week. The BoE is expected to cut its interest rate by 25 bps next week. The Japanese Yen edges higher as traders potentially unwind their carry trades ahead of the Bank of Japan's monetary policy meeting next week.
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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