GBP/JPY for the second time in a row

For the second day in a row, today’s money maker was the GBP/JPY. After the pair dropped by more than 300 points this past weekend, it continued the trend. This morning’s weaker than expected inflation data in Great Britain can be partly attributed to this. A softer economic picture pushes down expectations of another BoE rate hike further down. The GBP/JPY started the day at a high of 237.43. Around the time of the indicator’s release, the pair began its slide and recently hit its all day low of 234.82.