💱UK Pound Sterling/US Dollar FX Spot Rate
GBPUSD
▼ NegativeMonetaryrelevance
Softer UK inflation data weakens GBP, while intervention fears also pressure GBP/JPY; for GBP/USD, GBP weakens.
The British Pound weakened below 215.00 against the Japanese Yen on Wednesday following the release of softer UK consumer inflation figures. The GBP/JPY cross attracted heavy selling, snapping a three-day winning streak. Intervention fears also contributed to the downward pressure on the pair.
Softer UK inflation data weakens GBP, while intervention fears also pressure GBP/JPY; for GBP/USD, GBP weakens.
Softer UK inflation weakens GBP, but intervention fears support JPY; for USD/JPY, the net effect is ambiguous as USD is not directly mentioned.