GBP/JPY prints six-year high near 161.00 on strong yields, UK Spring Budget, inflation eyed By anilpanchal7 GBPJPY Inflation YieldCurve Ukraine RiskAppetite
Alike other yen pairs, GBP/JPY’s latest rally could well be linked to the strong Treasury yields across the board. “The Bloomberg Global Aggregate Index, a benchmark for government and corporate debt, has fallen 11% from a high in early 2021. That’s the biggest decline from a peak in data stretching back to 1990, surpassing a 10.8% drawdown during the financial crisis in 2008,” said Bloomberg.
Underpinning the latest bond round is the Fedspeak that keeps inflating expectations of faster rate hikes from the US central bank. Among them, St Louis Fed President, James Bullard and Cleveland It should be noted that Yomiuri recently mentioned that the Japanese Prime Minister Fumio Kishida is expected to order the preparation of an additional economic stimulus package by the end of March, which in turn adds to the GBP/JPY upside.
Moving on, Britain’s Consumer Price Index data for February will be crucial for the GBP/JPY prices amid hopes of a faster rate hike by the
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