In this week’s Exness Market Outlook we dissect the GBPJPY’s precarious stance on the forex ice.
The US Dollar continues to look very strong against the yen, as the interest rate differential continues to be the biggest driver overall. Ultimately, this is a situation where you continue to get paid for hanging onto the long position.
U.K. inflation rose at its slowest pace in April since July 2021. Yields on U.K. government bonds, or gilts, rose, with the policy-sensitive 2-year gilt yield up more than 0.11 percentage point. The U.K. consumer-price index rose 2.3% in April from a year earlier, edging closer to the central bank's 2% target.
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