GBP/JPY Retreats Below 195.00 as Markets Await UK Inflation Data
The GBP/JPY pair has seen some selling activity after initially rising to the 195.50 region during the Asian session. Following this temporary uptick, it has turned lower for the second straight day on Wednesday, currently trading just below the crucial 195.00 psychological level. Traders anticipate the upcoming UK Consumer Price Index (CPI) report, which is likely to provide fresh direction for the cross. Despite the recent downturn, prices remain near a nearly four-week high, suggesting that the downside may be limited as the market seeks clarity from impending economic data.
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