British Pound holds above one-week low vs JPY; intervention risks cap further gains
Di Haresh Menghani
Aggiornato: 8 Jun 2026
ARTICOLI POPOLARI
The GBP/JPY cross stages a modest recovery from over a one-week low, around the 213.30 region touched earlier this Monday, and sticks to modest intraday gains through the first half of the European session.
- GBP/JPY attracts some buyers after touching a one-week trough earlier this Monday.
- Intervention fears and BoJ rate hike bets underpin the JPY, capping gains for the cross.
- The UK political turmoil further warrants caution before positioning for further gains.
The GBP/JPY cross stages a modest recovery from over a one-week low, around the 213.30 region touched earlier this Monday, and sticks to modest intraday gains through the first half of the European session. Spot prices, however, remain below the 214.00 mark, warranting caution for aggressive bulls amid mixed cues.
The Japanese Yen (JPY) continues with its struggle to attract any meaningful buyers amid worries that Japan's economy will remain under strains due to the Middle East conflict and the continued disruption of supplies through the Strait of Hormuz. The British Pound (GBP), on the other hand, draws some support from a modest US Dollar (USD) downtick. These turn out to be key factors acting as a tailwind for the GBP/JPY cross.
The JPY bears, however, seem hesitant amid speculations that Japanese authorities will step in again to prop up the domestic currency. Moreover, data released earlier today showed that Japan’s economy expanded by 0.5% in the first quarter, outpacing consensus estimates and bolstering bets that the Bank of Japan (BoJ) will raise interest rates at its June 15-16 meeting. This helps limit JPY losses and might cap the GBP/JPY cross.
Meanwhile, UK Prime Minister Keir Starmer's authority has been severely shaken following the resignations of junior ministers, fueling political uncertainty. This, in turn, might continue to undermine the GBP and contribute to keeping a lid on the GBP/JPY cross. In the absence of any relevant market-moving economic releases, the fundamental backdrop suggests that any further intraday move is likely to be solid into and remain limited.
Japanese Yen Price Last 30 days
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies last 30 days. Japanese Yen was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 1.75% | 1.68% | 2.08% | 2.05% | 2.29% | 2.34% | 2.15% | |
| EUR | -1.75% | -0.09% | 0.33% | 0.32% | 0.45% | 0.55% | 0.40% | |
| GBP | -1.68% | 0.09% | 0.45% | 0.41% | 0.62% | 0.68% | 0.49% | |
| JPY | -2.08% | -0.33% | -0.45% | -0.04% | 0.04% | 0.18% | 0.10% | |
| CAD | -2.05% | -0.32% | -0.41% | 0.04% | 0.05% | 0.23% | 0.10% | |
| AUD | -2.29% | -0.45% | -0.62% | -0.04% | -0.05% | 0.15% | -0.04% | |
| NZD | -2.34% | -0.55% | -0.68% | -0.18% | -0.23% | -0.15% | -0.25% | |
| CHF | -2.15% | -0.40% | -0.49% | -0.10% | -0.10% | 0.04% | 0.25% |
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 Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
Oltre un milione di utenti si affida a FXStreet per dati di mercato in tempo reale, strumenti di charting, approfondimenti di esperti e notizie Forex. Il loro calendario economico completo e i webinar formativi aiutano i trader a rimanere informati e a prendere decisioni ponderate. FXStreet conta circa 60 professionisti tra la sede di Barcellona e diverse regioni globali.
Leggi di più
