GBP/JPY

The GBP/JPY cross-pair rises over 0.12% and trades at around 208.30 as risk appetite shifts to the sour side due to a rise in energy prices and bond yields, as investors grow uneasy about a possible reacceleration of inflation ahead of three monetary policy decisions by major central banks.

The GBP/JPY cross attracts some buyers at the start of a new week and maintains its bid tone around the 208.25-208.30 region through the first half of the European session.

The British Pound (GBP) is up against its major currency peers, except North American currencies, at the start of the United Kingdom (UK) data-packed week and the Bank of England’s (BoE) monetary policy announcement.

GBP/JPY depreciates after registering gains in the previous day, trading around 208.30 during Asian hours on Friday. The currency cross loses ground as the British Pound (GBP) remains subdued against the Japanese Yen (JPY) following the release of key economic data from the United Kingdom (UK).

GBP/JPY edges higher on Wednesday as the Japanese Yen (JPY) weakens across the board, likely reflecting some profit-taking after the currency’s strong run since the start of the month.

The GBP/JPY cross gains some positive traction on Thursday and moves away from the year-to-date low, around the 207.00 neighborhood, touched earlier this week. Spot prices stick to modest gains above the 208.00 mark through the early European session, though the uptick lacks bullish conviction.