GBP/JPY EDGES LOWER TO NEAR 187.50 AS BOJ SIGNALS TO RAISE RATES FURTHER
- GBP/JPY appreciates as BoJ officials indicate potential further policy tightening.
- JP Morgan Asset Management suggests that the BoJ might only consider increasing rates further if the Fed lowers its rates.
- The Pound Sterling may decline due to increased safe-haven flows amid heightened Middle-East tensions.
GBP/JPY recovers its recent gains from the previous two sessions, trading around 187.40 during the Asian session on Friday. Traders closely monitor Japan's monetary policy outlook, as central bank officials have signaled a readiness to raise rates further. However, they have adopted a more cautious stance due to heightened market volatility.
The GBP/JPY cross may experience downward pressure due to increased safe-haven flows amid heightened geopolitical tensions in the Middle East. The recent escalation followed the killing of senior members of militant groups Hamas and Hezbollah, which raised concerns about potential retaliatory actions by Iran against Israel.
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