Forex
Home›Forex›Major Pairs›GBP/JPY slips as yen strengthens amid intervention fea…
GBP/JPY slips as yen strengthens amid intervention fears
GBP/JPY was around 208.2, nearing September’s low near 207, as Japan’s currency diplomat warned markets to take Tokyo and Washington’s comments at face value.
GBP/JPY traded lower on Tuesday as the Japanese yen outperformed its major peers, FXStreet reported, with traders citing growing concerns that Japanese authorities could intervene again in the currency market.
At the time of writing, the cross was around 208.20, edging toward September’s low near 207, while Japan’s currency strength also showed up in relative moves versus other major currencies.
FXStreet pointed to remarks from Japan’s top currency diplomat, Atsushi Mimura, who said markets should take Tokyo and Washington’s warning about yen weakness “at face value.” Mimura also said he was “neither satisfied nor reassured” by recent currency moves, leaving the outlook fragile on the pound side.