GBP/JPY Drops Near 195.50 Ahead of Key Labor Market Data
GBP/JPY Drops Near 195.50 Ahead of Key Labor Market Data
The GBP/JPY pair has paused its two-day rally, trading around 195.40 during Asian trading hours on Tuesday. However, the potential for further losses appears limited. The Japanese Yen may depreciate, especially with increasing expectations that the Bank of Japan will refrain from an interest rate hike this Thursday.
Market participants should pay close attention to the upcoming labor market data, as it could influence market dynamics and impact the direction of the GBP/JPY cross. Timing and analysis will be key as data releases come in.
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