GBP/JPY is middling on Thursday, pausing after a 13-day climb. Data for both currencies remains limited, but UK elections could spark volatility. Japanese Yen likely to continue deflating as BOJ remains stubbornly easy on policy. Meaningful economic data is absent from the economic calendar on Thursday. Still, upcoming UK Parliamentary Election results could spark moves in either direction as traders tend to reward political upheaval with an overall uptick in volatility.
It is the fourth most traded unit for foreign exchange in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, aka ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders , and EUR/GBP . The Pound Sterling is issued by the Bank of England .
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Source: FXStreetNews - 🏆 14. / 72 Read more »