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GBP/JPY consolidates near 196.00 after snapping a six-day winning streak

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GBPJPY News

Crosses,Macroeconomics,Japan

GBP/JPY snaps its six-day winning streak, trading around 195.90 during the European session on Tuesday.

GBP/JPY depreciates after the mixed UK employment data released on Tuesday. The ILO Unemployment Rate rose to 4.3% in March, up from 4.2% in the previous reading. Former BoJ executive Kazuo Momma has suggested that the central bank is likely to postpone its next rate hike until September. The Pound Sterling is encountering challenges following the release of mixed UK employment data, which is undermining the GBP/JPY cross. The ILO Unemployment Rate climbedto 4.3% in March from 4.

On the JPY front, former Bank of Japan’s executive Kazuo Momma suggested that the central bank is expected to delay its next rate hike until September. Momma indicates that policymakers are likely to prefer waiting until at least September to gather more information from the government's monthly wage data for July and August.

 

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GBP/JPY extends winning spell to 196.00 after BoJ keeps interest rates unchangedThe GBP/JPY pair extends its winning streak for the fourth trading session on Friday and rises to a historic high of 196.00.
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