GBP/JPY Holds Gains After UK Jobs Data, Awaits BoE
The British pound edged higher against the Japanese yen after UK employment data, but the rally lacks bullish conviction ahead of the Bank of England meeting.
GBPJPY
The GBP/JPY pair extended its intraday recovery from a one-and-a-half-week low on Thursday, reclaiming the 214.00 level. The move followed the release of UK monthly employment figures, which briefly supported sterling.
Traders remain cautious, however, with the Bank of England policy decision looming. The lack of strong bullish momentum suggests the pair could remain range-bound until the central bank provides clearer direction.
Source: FXStreet Forex News