GBPJPY: Comments on GBPJPY today

Today, traders will depend on dollar sentiment, risk appetite and bond market developments. There are no significant data published in Europe:

14:00: Switzerland's October trade balance data
17:15: BOE policymakers will testify before parliament on monetary policy, inflation and the UK's economic outlook

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Will GBPJPY continue to rise or will it change direction?

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JP Morgan now says that the Bank of England will deliver a 50 basis point rate cut in the fourth quarter of 2024 compared to the pause throughout 2024 they had previously forecast.