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GBP/JPY: Weekly Analysis & Intraday Forecast

The Japanese Yen has touched new multi-decade lows against a basket of currencies following the Bank of Japan’s expected decision to keep its monetary policy unchanged. The latest catalyst for the Yen’s decline was weaker-than-expected inflation data from Tokyo, which has further solidified the central bank’s accommodative stance. Tokyo CPI is seen as an important leading indicator for national inflation. As the BoJ diverges from other major central banks in policy tightening, the Yen remains vulnerable to further volatility and depreciation.

 

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