GBP/JPY Slips as Joint Intervention Speculation Lifts Yen

The Pound has slipped against the Japanese Yen as speculation about possible joint intervention between the US and Japan lifts the JPY. The GBP/JPY cross was last seen down by around 0.17% at 209.45 despite a partial intraday rebound.

Japanese Finance Minister Satsuki Katayama's comments at a press conference intensified expectations for potential coordinated action in currency markets. He stated that US President Donald Trump had voiced concern about Yen weakness during a meeting with Japanese Prime Minister Sanae Takaichi in New York on Tuesday.

Katayama noted, 'The principles since the previous joint intervention ⁠remain alive,' referring to the operation conducted on July 31 when Tokyo and Washington intervened together in the market to address excessive volatility and disorderly price action.