The GBP/JPY cross attracts some dip-buying during the Asian session on Wednesday and reverses a part of the previous day's losses.
GBP/JPY regains positive traction on Wednesday, though it lacks follow-through buying. The BoJ rate hike uncertainty undermines the JPY and lends some support to the cross. Geopolitical risk helps limit deeper JPY losses and keep a lid on further gains for the pair. The GBP/JPY cross attracts some dip-buying during the Asian session on Wednesday and reverses a part of the previous day's losses.
Furthermore, the GBP/JPY cross has repeatedly failed to find acceptance above the 200-day SMA. Hence, strong follow-through buying is needed to support prospects for a further appreciating move. Bank of Japan FAQs What is the Bank of Japan? The Bank of Japan is the Japanese central bank, which sets monetary policy in the country. Its mandate is to issue banknotes and carry out currency and monetary control to ensure price stability, which means an inflation target of around 2%.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/JPY Price Forecast: Jumps to multi-week top, reclaims 191.00 amid notable JPY weaknessThe GBP/JPY cross turns positive for the fifth successive day following an intraday dip to the 188.70 area and jumps to a nearly three-week top during the first half of the European session on Friday.
Read more »
Kenyan doomsday cult massacre that killed hundreds, including 191 kids, still haunts survivorsToday's Video Headlines: 9/14/2024
Read more »
GBP/JPY extends rally after UK Retail Sales and Mann’s comments boost the PoundGBP/JPY rises over one-and-a-quarter percentage points on Friday, to trade in the 191.80s, as it builds on considerable gains made throughout the week.
Read more »
Gold holds gains on bets of more Fed cuts, Middle East tensionsGold (XAU/USD) slightly retraces during the European session on Monday after being pushed up to a new all-time-high (ATH) of $2,631 earlier in the day, as markets continue to price in more aggressive interest rate cuts from the Federal Reserve (Fed) whilst rising geopolitical tensions stemming from the Middle East increase safe-haven demand for...
Read more »
Asia stocks slide, oil extends gains on Middle East risksAsia stocks slide, oil extends gains on Middle East risks
Read more »
GBP/JPY weakens after Takaichi defeat removes impediment to rate hikesGBP/JPY declines by almost one and a half percentage points to trade in the 191.50s on Friday after the news that former Japanese defense minister Shigeru Ishiba beat his opponent Sanae Takaichi to win the ruling-LDP party’s leadership race run-off.
Read more »