GBP/JPY has pared its daily losses, moving downward toward 195.00 during the Asian session on Monday.
GBP/JPY moves downward after paring intraday gains, a movement possibly linked to intervention by Japan ese authorities. The Pound Sterling has strengthened amidst market expectations of BoE holding off on lowering borrowing costs until the next quarter. The significant and enduring interest rate differential between Japan and other nations is anticipated to persist for some time.
Moreover, the anticipation of a prolonged and substantial interest rate gap between Japan and other countries suggests a bias for further depreciation in the trajectory of the Japanese Yen . Meanwhile, in the UK, the Pound Sterling has strengthened amidst market expectations that the Bank of England will likely hold off on lowering borrowing costs until the next quarter, as indicated by median forecasts in a Reuters poll.
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