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fxJul 15, 2026, 7:47 AM

GBP/JPY Nears Multi-Year Peak as Rate Gap, Iran Risks Weigh on Yen

The GBP/JPY cross climbed to a fresh weekly top around 217.70, supported by the UK-Japan interest rate differential and geopolitical risks from Iran undermining the Japanese yen.

GBPJPY

The GBP/JPY pair extended its gains for a second consecutive session during European trading, reaching a fresh weekly high near 217.70. The move brings the cross close to multi-year peak territory.

Traders cite the persistent interest rate gap between the UK and Japan as a key driver, alongside heightened geopolitical tensions involving Iran that continue to put downward pressure on the safe-haven yen.

Source: FXStreet Forex News