Bullish
GBP/JPY rises to 209.83 as yen weakens post-BOJ rate hike to 31-year high.
The British pound surged against the Japanese yen, reaching 209.83, following the Bank of Japan's decision to raise interest rates to a 31-year high of 1.25%. Despite the rate hike, the yen weakened, leading to a significant appreciation of GBP/JPY.
Key points
- GBP/JPY climbs to 209.83 after BOJ's rate hike to 1.25%.
- Market had fully priced in the BOJ's rate hike, leading to a 'sell-the-fact' move.
- BOJ Governor Kazuo Ueda hinted at potential further hikes, but lacked stronger signals on future tightening.
Sources
AI-generated from public news sources. Not financial advice.
