Snapshot: GBP/JPY is trading around 192.35, marginally lower on the session, as dovish repricing of the BoE’s rate path continues to weigh on Sterling. Today’s UK retail sales print at 07:00 London will be key to gauging consumer resilience.
- Support lies near 191.80, the overnight low, a break of which could accelerate losses.
- Watch for further BoJ commentary echoing Koeda’s recent speech, which may hint at future policy adjustments.
Bias into NY: Cautious on GBP/JPY, favouring a test of 192.00 as weaker UK data fuels BoE easing expectations; further downside could be amplified if US yields continue to drift lower, dampening Yen appeal.