GBP/JPY Eases After Hitting Highest Level Since 2007
The British pound edged lower against the yen on Thursday, taking a breather after reaching its strongest level since December 2007 the previous day, supported by reduced political uncertainty and expectations of more expansive fiscal policy.
GBP/JPY traded with a mild negative bias on Thursday as the pair paused after climbing to its highest level since December 2007 in the previous session. The British pound had been boosted by easing political uncertainty and market expectations of greater fiscal expansion.
The pullback suggests traders are taking profits after the sharp rally, though the overall trend remains positive for the pound. No significant economic data releases were cited for the move, and the session's price action was largely technical in nature.
Source: FXStreet Forex News