![Jenny Han Dropped a Major ‘The Summer I Turned Pretty’ Easter Egg Revealing [SPOILER] – yahoo.com](https://earth-news.info/wp-content/uploads/2025/09/319001-jenny-han-dropped-a-major-the-summer-i-turned-pretty-easter-egg-revealing-spoiler-yahoo-com-360x180.jpg)
GBP/JPY extends its gains on the upbeat UK economic data.
UK inflation and retail sales data reinforce the strength of the Pound Sterling.
Traders await Friday’s National Consumer Price Index data from Japan.
GBP/JPY moves on its upward trajectory for the third successive day, trading around 187.10 during the European session on Wednesday. The Pound Sterling (GBP) gained ground following solid economic data from the United Kingdom (UK) released on Wednesday, which in turn, underpinned the GBP/JPY cross. The likelihood of an early rate cut by the Bank of England (BoE) has diminished due to higher price pressures which could deter the central bank from implementing monetary policy easing. Instead, the BoE may adopt a more cautious approach to manage inflation and maintain price stability.
UK Consumer Price Index (CPI) year-over-year rose by 4.0% against the 3.9% prior, exceeding the expected reading of 3.8% in December. The monthly CPI increased by 0.4% against the 0.2% as expected, swinging from the previous decline of 0.2%. Meanwhile, the annual Core CPI remained consistent at 5.1% against the market expectation of 4.9%.
Moreover, the UK Retail Price Index (MoM) grew by 0.5% as compared to the expected 0.4% figure. The annual report showed a growth of 5.2% against the 5.1% expectations in December. However, Producer Price Index – Output (YoY) increased to 0.1% from the previous decrease of 0.1%, falling short of the expected 0.4% reading.
On the flip side, the Japanese Yen (JPY) continues to decline against the British Pound (GBP) due to decreasing consumer prices in Tokyo and weak labor data released last week. This has solidified expectations that the Bank of Japan (BoJ) will postpone its plan to shift away from its extremely accommodative monetary policy stance.
Additionally, the JPY has not found relief from a generally bearish sentiment in equity markets and ongoing geopolitical tensions arising from the Middle East conflict. Traders await Japan’s National Consumer Price Index data to be released on Friday.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : FXStreet – https://www.fxstreet.com/news/gbp-jpy-surpasses-18700-psychological-level-after-solid-uk-inflation-data-202401170914
