GBP/JPY

GBP/JPY posts modest gains on Monday as the Japanese Yen (JPY) underperforms its major peers. However, price action remains largely range-bound as traders brace for key events this week, including the UK Budget and the Bank of Japan’s (BoJ) monetary policy announcement.

The British Pound (GBP) rises to near 210.20 against the Japanese Yen (JPY) after the release of the United Kingdom (UK) Retail Sales data for September.

The British Pound (GBP) is down 0.5% at around 210.30 against the Japanese Yen (JPY) during the European session on Thursday. The cross faces selling pressure as the Japanese currency outperforms even as the Bank of Japan (BoJ) is expected to leave interest rates unchanged at 1.25% next week.

GBP/JPY goes nowhere on Wednesday, trading around 211.77 as neither buyers nor sellers can provide direction, following the break of the 50-day Simple Moving Average (SMA) at 211.34 towards the close of the October 20 session.

The British Pound (GBP) reflects topsy-turvy moves against its peers, but remains broadly flat, after the release of the hotter-than-expected United Kingdom (UK) Consumer Price Index (CPI) data for September. Against the Japanese Yen (JPY), the British currency is almost flat at around 211.45.

The British Pound (GBP) reacts positively after the release of the strong United Kingdom (UK) labor market data for three months ending August. Against the Japanese Yen (JPY), the British currency has risen 0.12% to near 211.10.