GBP/JPY Plunges to Two-Week Low Amid BoJ Minutes and UK Economic Concerns

The British Pound (GBP) has extended its losses against the Japanese Yen (JPY) on Monday, hitting fresh two-week lows at 207.70 after being rejected at 209.00 in the Asian session.

This marks a more than 1% decline over the last two trading days and brings the GBP/JPY pair close to oversold levels on intraday charts.

The Bank of Japan's (BoJ) minutes from July's meeting showed that some policymakers called for faster interest rate hikes in light of mounting inflation risks, but the move had little impact on the pair at the time of release.