GBPJPY Exchange Rate

The Japanese yen weakened against other major currencies in the European session on Friday.

The Japanese yen strengthened against other major currencies in the Asian session on Thursday, as traders speculate that the Bank of Japan is likely to raise its interest rate in the monetary policy meeting due next week, to boost the currency.

The Japanese yen strengthened against other major currencies in the Asian session on Thursday.

Services producer prices in Japan were up 3.0 percent on year in June, the Bank of Japan said on Thursday - accelerating from the upwardly revised 2.7 percent increase in May (originally 2.5 percent).

The US Dollar plummeted against the Japanese Yen to 155.60 from 157.37. Rising expectations of a BOJ rate hike at their policy meeting next week weighed on the Greenback.

The dollar's recent strength was tempered by last Friday's Personal Consumption Expenditures (PCE) reading, which aligned with market expectations. The mixed results of recent U.S. economic indicators have cast uncertainty over the Federal Reserve's upcoming monetary policy moves, although part of the market remains optimistic about an October rate cut.

Our forex market report offers an overview of critical economic and financial events that impact the global forex markets. Traders should closely monitor developments to fine-tune their trading strategies accordingly.

The British pound (GBP) is experiencing a significant rise, reaching new heights since Brexit. This increase has pushed the Bank of England's Trade Weighted Index (BoE TWI) past its previous March peak, reaching levels not seen since June 24, 2016, when the pound plummeted following the UK's decision to leave the European Union.