GBP/JPY continues to lose ground for the fourth consecutive day, trading around 199.50 during the Asian session on Wednesday.
GBP/JPY extends its losing streak due to the increased risk aversion. The Japan ese Yen improves as traders expect the BoJ to raise rates in next week’s meeting. The Pound Sterling may limit its downside due to the reduced likelihood of an August rate cut by the BoE. This downside could be attributed to the improved Japan ese Yen likely due to a return of risk-off flows.
Additionally, the Manufacturing PMI is anticipated to increase to 51.1, up from the previous reading of 50.9. Interest rates FAQs What are interest rates? Interest rates are charged by financial institutions on loans to borrowers and are paid as interest to savers and depositors. They are influenced by base lending rates, which are set by central banks in response to changes in the economy.
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