GBP/JPY Crosses Rally Driven by Macroeconomics: Attention on Tokyo CPI Data
Wednesday, 25 September 2024, 22:36
GBP/JPY Crosses Extend Rally
The GBP/JPY crosses are witnessing notable buying interest, pushing the pair to near 193.10 in the early European trading session on Thursday. A prevailing sentiment suggests that the Bank of Japan (BoJ) may opt to postpone any interest rate hikes for the remainder of this year. This anticipation holds significant implications for the forex market.
Implications of Tokyo CPI Data
- Tokyo CPI's Role: The upcoming consumer price index data from Tokyo is expected to shed light on inflationary pressures within the economy.
- Market Reactions: Traders are gearing up for potential volatility in the GBP/JPY crosses based on the CPI reporting.
- Broader Market Trends: This data could influence not only GBP/JPY but also overall market sentiment surrounding ~macro trends in currency trading.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.