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GBP/JPY retraces to near 194.50 as the Pound Sterling struggles to extend upside. The Japanese Yen gains as likely changes in bond composition this year have prompted a rise in bond yields. Traders reassess BoE dovish bets after hot UK inflation and strong Retail Sales data for April. The GBP/JPY pair corrects to near 194.50 during European trading hours on Wednesday after refreshing an almost two-week high around 195.60 the previous day. The pair faces selling pressure as the Pound Sterling (GBP) underperforms after a strong run-up in the past few trading days. British Pound PRICE Today The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the weakest against the Japanese Yen. USD EUR GBP JPY CAD AUD NZD CHF USD 0.09% 0.02% -0.14% 0.07% -0.02% -0.37% 0.00% EUR -0.09% -0.02% -0.16% -0.01% -0.09% -0.42% -0.06% GBP -0.02% 0.02% -0.14% 0.06% -0.05% -0.07% -0.00% JPY 0.14% 0.16% 0.14% 0.20% 0.11% -0.21% 0.22% CAD -0.07% 0.01% -0.06% -0.20% -0.08% -0.40% -0.06% AUD 0.02% 0.09% 0.05% -0.11% 0.08% -0.00% 0.05% NZD 0.37% 0.42% 0.07% 0.21% 0.40% 0.00% 0.05% CHF -0.01% 0.06% 0.00% -0.22% 0.06% -0.05% -0.05% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote). However, the outlook of the Pound Sterling remains firm as traders pare bets supporting the Bank of England (BoE) to reduce interest rates again in the June policy meeting. A hotter-than-projected United Kingdom (UK) Consumer Price Index (CPI) and robust growth…

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Filed under: News - @ May 28, 2025 8:28 am