GBP/JPY holds firm below highs of the day around, stalling between 161.70/97 By ross_burland GBPJPY Currencies DollarIndex Fed Ukraine
The focus is on US yields, Ukraine and BoE outlook.
Brainard said she expects rapid reductions to the Fed's balance sheet alongside methodical increases to the benchmark rate. This has sprung life into the US dollar and the yen is bearing the brunt of it. GBP/USD is also under pressure which has left GBP/JPY trading sideways in the past few hours of late-morning US trade. net short GBP positions increased for a fourth week as concerns rise as to the cost of living crisis in the UK. Soaring global energy and food prices are a concern.
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