The GBP/JPY pair faced a sharp sell-off near 183.70 on Tuesday after the United Kingdom Office for National Statistics (ONS) reported that the laborfo
GBP/JPY falls sharply to near 181.60 as the UK’s labor demand fades due to poor economic outlook. The Pound Sterling has been facing the wrath of higher interest rates by the BoE. A stealth intervention may not turn the tide, which is towards the Japanese Yen due to BoJ’s easy policy stance. rce witnessed lay-off for the third time in a row. The correction in the cross has extended to 181.
25% amid an absence of supportive economic readings. Meanwhile, BoE Governor Andrew Bailey is confident over a marked decline in inflation in October. The Japanese Yen has been underpinned against the Pound Sterling as expectations of intervention by the Japanese Ministry of Finance in the FX domain to provide cushion to the domestic currency remain high.
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