GBP/JPY halts its losing streak that began on July 30, trading around 187.00 during the European session on Wednesday.
GBP/JPY holds gains following unexpected dovish comments from BoJ Deputy Governor Shinichi Uchida. BoJ’s Uchida emphasized to maintain its current level of monetary easing for the time being. The Japan ese Yen may appreciate due to increased risk aversion amid heightened Middle East tensions. This rebound could be linked to dovish comments from Bank of Japan Deputy Governor Shinichi Uchida, who stated, “We won’t raise rates when markets are unstable,” according to Reuters.
Meanwhile, the Pound Sterling could face challenges following the BoE's widely anticipated 25-basis point rate cut at its August meeting. Additionally, market expectations now include the possibility of two more quarter-point rate cuts by the BoE by December. Interest rates FAQs What are interest rates? Interest rates are charged by financial institutions on loans to borrowers and are paid as interest to savers and depositors.
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