GBP/JPY extends its gains on the second day, trading higher around 184.00 during the Asian session on Wednesday. The Guppy pair could face headwinds d
, coupled with the recent hawkish comments from the Bank of Japan .
The central bank needs to carefully manage the trade-off between controlling inflation and ensuring the health and stability of the economy. This balancing act can have implications for the British Pound .Governor Kazuo Ueda's recent comments suggest the possibility of eventually ending the central bank's negative interest rate policy if data continues to improve by the end of the year. This has provided support in undermining the cross GBP/JPY pair.
This suggests that market expectations of imminent rate adjustments may be premature. The central bank will likely carefully assess economic conditions and inflation trends before making any significant policy shifts. These developments can have an impact on the Japanese Yen .
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