GBP/JPY edges lower as traders await BoE and BoJ decisions
The British pound fell against the yen in Asian trading, failing to hold a bounce from its two-week low ahead of Bank of England and Bank of Japan policy updates.
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The GBP/JPY cross met renewed selling pressure during the Asian session, eroding the previous day's solid rebound from the 217.15 region, which had marked a two-week low.
Traders were unwilling to push the pair higher as they positioned for upcoming policy announcements from both the Bank of England and the Bank of Japan. The cautious mood reflected uncertainty over the central banks' forward guidance.
Without a fresh bullish catalyst, the cross struggled to capitalize on the bounce, highlighting short-term downside risks ahead of the key events.
Source: FXStreet Forex News