GBP/JPY Jumps To Near 189.60 Ahead Of Trump-Starmer Meet In Washington
The GBP/JPY pair advances to near 189.60 in North American trading hours on Thursday. The pair gains as the Pound Sterling (GBP) strengthens, with investors focusing on the meeting between United States (US) President Donald Trump and United Kingdom (UK) Prime Minister Keir Starmer, which is scheduled for Thursday.
British Pound PRICE Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.05% | -0.04% | 0.28% | 0.11% | 0.08% | 0.19% | 0.35% | |
| EUR | -0.05% | -0.08% | 0.30% | 0.08% | 0.04% | 0.15% | 0.30% | |
| GBP | 0.04% | 0.08% | 0.42% | 0.16% | 0.12% | 0.24% | 0.39% | |
| JPY | -0.28% | -0.30% | -0.42% | -0.23% | -0.26% | -0.18% | 0.00% | |
| CAD | -0.11% | -0.08% | -0.16% | 0.23% | -0.03% | 0.07% | 0.23% | |
| AUD | -0.08% | -0.04% | -0.12% | 0.26% | 0.03% | 0.12% | 0.26% | |
| NZD | -0.19% | -0.15% | -0.24% | 0.18% | -0.07% | -0.12% | 0.14% | |
| CHF | -0.35% | -0.30% | -0.39% | -0.00% | -0.23% | -0.26% | -0.14% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
UK Starmer is expected to discuss trade policies with US Donald Trump as the latter has threatened to impose tariffs on his trading partners. Market participants expect Starmer-Trump discussions on tariffs to be healthy as Trump said earlier this month that he is not sure about imposing tariffs on the UK but was confident that a “deal could be made” as Prime Minister Keir Starmer has been "very nice".
On the monetary policy front, firm expectations that the Bank of England (BoE) will follow a moderate policy-easing cycle could keep the downside in the Pound Sterling limited. Traders have fully priced in two interest rate cuts by the BoE this year. Meanwhile, the BoE has already reduced its key borrowing rates by 25 basis points (bps) to 4.5% in the policy meeting earlier this month.
Contrary to market expectations, BoE Monetary Policy Committee (MPC) member Swati Dhingra expects the monetary easing cycle to be faster than market expectations due to weak consumer demand. "I know 'gradual' has been interpreted in the media as 25 basis points (bps) per quarter but cutting interest rates at this pace for the remainder of 2025 would still leave monetary policy in an undesirable restrictive position at the end of the year, Dhingra said in a speech at Birkbeck on Monday.
Meanwhile, the Japanese Yen (JPY) underperforms across the board despite firm expectations that the Bank of Japan (BoJ) will raise interest rates again this year. BoJ hawkish bets have accelerated due to inflation pressures settling above the 2% target for a longer period. Also, BoJ officials have been confident about further increases in wage growth.
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