Snapshot: GBP/JPY currently trades at 214.42 (-0.06%), consolidating within a tight intraday range. Focus remains on the BoE’s cautious stance, with resilient services CPI and wages keeping rate cut expectations at bay for now. Today’s key event is BOJ Governor Ueda speaking at 09:00 JST.
- Key level to watch is the intraday high of 214.68; a break above this level could signal renewed bullish momentum.
- Risk: Unexpected hawkish comments from BOJ Governor Ueda could trigger JPY strength, weighing on GBP/JPY.
Bias into NY: Neutral to slightly bullish, contingent on risk sentiment and UK yields remaining stable. A sustained break above 214.70 would open the way to 215.00, but a move below 214.20 would negate this view.