Forex
GBP/JPY Cross Gains Momentum as BoJ Hawks Weigh on JPY
The British Pound (GBP) has rebounded from its year-to-date low against the Japanese Yen (JPY), reaching prices above 208.00.
This comes as UK Finance Minister John Healey's fiscal discipline pledge and a weak US Dollar lend support to the GBP.
A more hawkish Bank of Japan (BoJ) repricing continues to underpin the JPY, which might cap gains for the cross.
The market is now looking ahead to the release of the monthly UK GDP report on Friday, which will influence the GBP price dynamics and provide some meaningful impetus to the currency pair.