GBP/JPY drops sharply below 169.00 as UK CPI lands higher at 10.1% – by Sagar_Dua24 GBPJPY Inflation BOE BOJ ElectionUK
GBP/JPY has slipped strongly to near 168.54 on higher-than-projected UK inflation data.
Japanese yen could face more pressure post the growing risk of deflation due to external demand shock. at 10.1%, higher than the expectations of 10% and the prior release of 9.9%. Also, the core CPI has escalated to 6.5% than the projections of 6.4% and the former figure of 6.3%. policymakers could sound extremely hawkish, going forward. It is worth noting that the BOE escalated its interest rates by 50 basis points to 2.25% in its September monetary policy meeting.
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