Gbp jpy news today
Here are the latest news and updates on the GBP/JPY currency pair:
Current Rate: 1 GBP = 144.35 JPY
News and Updates:
- UK Inflation Rate: The UK's Consumer Price Index (CPI) rose to 2.5% in January, exceeding expectations and sparking concerns about inflationary pressures. This could lead to a stronger GBP.
- BoE Interest Rate Decision: The Bank of England (BoE) is set to announce its interest rate decision on February 25th. A rate hike is expected, which could boost the GBP.
- UK-EU Trade Talks: The UK and EU are set to resume trade talks this week, with the aim of reaching a post-Brexit trade deal. A positive outcome could support the GBP.
- Japanese Economy: Japan's economy contracted by 0.4% in the fourth quarter of 2020, according to preliminary data. This could lead to a weaker JPY.
- Global Market Sentiment: Global market sentiment remains cautious due to concerns over the COVID-19 pandemic, US-China tensions, and the upcoming US presidential election. This could lead to a more volatile GBP/JPY market.
Technical Analysis:
- The GBP/JPY pair is trading above its 200-day moving average (144.20) and is showing signs of strength.
- The RSI (Relative Strength Index) is above 50, indicating a bullish trend.
- The MACD (Moving Average Convergence Divergence) is also bullish, suggesting a potential upward trend.
Forecasts:
- According to a recent survey by Bloomberg, 12 out of 24 analysts expect the GBP/JPY pair to rise above 145.00 in the next three months.
- Another survey by Reuters suggests that 15 out of 25 analysts expect the pair to rise above 146.00 in the next six months.
Please note that these are just some of the latest news and updates, and the market can be highly volatile. It's always a good idea to stay informed and consult with a financial advisor before making any investment decisions.