GBP/JPY rose to yet another fresh 16-year high on Wednesday, crossing the 206.00 handle after extending recent gains into a 13-trading-day winning streak.
GBP/JPY gains further ground, chalks in a 13-day win streak. UK PMI figures improved slightly in June, bolstering GBP. UK elections on Thursday to introduce some volatility. The Japanese Yen continues to flounder at the bottom of the Bank of Japan’s hyper easy monetary policy stance. Still, the UK’s upcoming Parliamentary Elections on Thursday could spark fresh volatility in GBP pairs.
Its key trading pairs are GBP/USD, aka ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders , and EUR/GBP . 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.
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