GBP/JPY Breaks Out Of 164.00, Aims Higher

Bank Of England (BOE)

GBP/JPY refreshes three-day high after breaking out of 164.30 following the ultra-loose monetary policy by the Bank of Japan (BOJ). A policy divergence between the Bank of England (BOE) and the BOJ fueled the pound against the yen.

Bank Of England (BOE)

The BOE hiked its interest rates by 25 basis points (bps) on Thursday, driving the interest rates to 1.25%, meeting the market's expectations. Regarding the inflation figures, the UK annual Consumer Price Index (CPI) rose above 9%, the highest level amongst the G7 group of leading world economies. The rise in inflation is weighing heavily on the British people. For this reason, the market participants are expecting the BOE to do whatever it takes to bring inflation figures down.

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GBP/JPY Breaks Out Of 164.00, Aims Higher | ICM.COM

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