Japan’s overnight swap rates have indicated rising odds of a BoJ interest rate hike next week.
JPY crosses have lost upside momentum in the last four weeks; the weakest among the G-10 is the GBP/JPY.
A potential looming medium-term downtrend phase has kickstarted for GBP/JPY.
This is a follow-up analysis of our prior report “USD/JPY: Yen strength elements emerged ahead of BoJ meeting next week” published on 16 January 2025. Click here for a recap.
In the run-up to next Friday, 24 January, the
17-01-2025 05:05 GMT
by Kelvin Wong