- The GBP/JPY maintains its position after the publication of the Halifax housing prices of the United Kingdom.
- The sterling pound faces difficulties amid increasing concerns about the tax perspectives of the United Kingdom.
- Cash for work in Japan increased by 1% year -on -year in May, below market expectations of a 2.4% increase.
The GBP/JPY remains stable after experiencing volatility, quoting around 197.30 during the European hours on Monday. The currency crossing remains firm after the Halifax housing prices of the United Kingdom, which rose 2.5% year -on -year in June, compared to the 2.6% increase in May. Monthly housing prices stagnated, after a revised 0.3%rise.
The GBP/JPY crossing can have difficulties since pound sterling (GBP) faces challenges due to the growing concerns about the tax perspectives of the United Kingdom (UK). Foreign Minister Rachel Reeves indicated possible tax increases in the Autumn Budget to address a deficit in public finances. In addition, the Labor Party has retired from well -being reforms to avoid internal rebellion, with Reeves admitting that there were costs associated with these concessions.
In addition, Deutsche Bank analysts expect an additional cut of 25 basic points in the interest rate up to 4% by the Bank of England (BOE) in August. The analysts also anticipated that the Central Bank will make two more cuts in November and December.
The Japanese Yen (JPY) faces challenges since the disappointing salary data of Japan weakens the expectations of more rates increases by the Bank of Japan (Boj). Working income for work increased by 1% year -on -year in May, being below the market expectations of a 2.4% increase and marking a third consecutive month of deceleration. The previous reading was 2.0% (reviewed from 2.3%) in April.
In addition, the JPY faced additional pressure after the comments of the Sunday of Prime Minister Shigeru Ihiba. Ishiba said that it would not “easily commit” in commercial negotiations with Washington, since Japan seeks to avoid US tariffs of up to 35% about their exports.
LIBRA ESTERLINA PRICE TODAY
The lower table shows the percentage of pounding sterling (GBP) compared to the main currencies today. The sterling pound was the strongest currency against the New Zealand dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.48% | 0.55% | 0.83% | 0.65% | 1.08% | 1.17% | 0.45% | |
| EUR | -0.48% | 0.09% | 0.10% | 0.14% | 0.65% | 0.68% | -0.04% | |
| GBP | -0.55% | -0.09% | -0.02% | 0.08% | 0.57% | 0.60% | -0.24% | |
| JPY | -0.83% | -0.10% | 0.02% | 0.07% | 0.48% | 0.58% | -0.30% | |
| CAD | -0.65% | -0.14% | -0.08% | -0.07% | 0.44% | 0.53% | -0.33% | |
| Aud | -1.08% | -0.65% | -0.57% | -0.48% | -0.44% | 0.13% | -0.81% | |
| NZD | -1.17% | -0.68% | -0.60% | -0.58% | -0.53% | -0.13% | -0.85% | |
| CHF | -0.45% | 0.04% | 0.24% | 0.30% | 0.33% | 0.81% | 0.85% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the sterling pound from the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the GBP (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
