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The GBP/JPY pair is falling further on Monday, having dropped from 182.00. The yen is strengthening ahead of Tuesday’s BoJ report. Low-impact UK data for Monday was largely negative, the final poor result before Thursday’s BoE.
The GBP/JPY is currently trading at 181.00, and if traders of the pound sterling (GBP) are unable to find a reason to buy this week, further declines into the 180.00 handle are likely.
The Yen is steadily rising across the board, which has caused the Guppy to drop 1.5% from its peak of 183.75 last week. The JPY has been seeing a comeback recently after being crushed for the majority of 2023; the GBP/JPY is down more than 3% from the pair’s eight-year high of 186.77 set in August.
Investor attention will be focused on the Bank of Japan’s (BoJ) interest rate call, barring any notable deviations from the forecast figures. Early Tuesday brings a scattering of Japanese economic data, including Retail Sales and the Japanese Unemployment Rate.
