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GBP/JPY lifts above 201.00 for the first time in over 15 years

The last time the GBP/JPY was above 201.00 was back in August 2008. The pound has now managed to recapture that level this morning and of course that means a new 2024 high for the cross too. The move higher comes mostly due to the USD/JPY rising to session highs above 157.25 just now. In terms of assessing how much further it might rise to from here is not easy, especially as we have the Bank of Japan policy decision due early tomorrow. Naturally, if the BOJ offer a dovish outcome, then further upside in the GBP/JPY would seem entirely possible. We shall have to see on that. The Pound has reached a high so far at 201.15. It is currently trading at 201.13
 

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