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GBP/JPY extends gains to a new 9 year high

Yesterday an update here noted the move to fresh 9 year highs in the GBP/JPY, when it rose above 191.31. That update also noted; that the topside was probably not finished with yet. Well, as you can see this morning, that was indeed the case. The GBP/JPY rose to set a new 9 year high earlier today, at 192.85. That means it has taken another step closer to the highs reached in 2015, at 195.88. The pound has dropped back a bit right now though, but not materially so at this stage. Of course all of these fresh gains are entirely led by the USD/JPY and much will depend on the dollar going forward and more especially how the USD/JPY reacts to the Fed policy decision this evening. The GBP/JPY is currently trading at 192.50 

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