GBP/JPY surges through key 150.00 mark, fresh post-Brexit highs
|After an initial fall to 146.60 area, the GBP/JPY cross regained traction and built on previous session's BoE-led strong gains.
The cross continues to benefit from Thursday's hawkish BoE minutes, revealing policymakers' broad consensus that some withdrawal of monetary stimulus would be appropriate over the coming months.
The latest comments from BoE MPC member Gertjan Vlieghe, that appropriate time for rate hike might be as early as in the coming months, provided an additional boost to the British Pound and pushed the cross through the key 150.00 psychological mark to the highest level since June 2016.
With today's up-move, the cross has now surged over 550-pips from the 145.00 neighborhood, touched in reaction of the BoE decision to leave interest rates and QE unchanged at 0.25% and £435 billion, respectively.
Meanwhile, the prevalent cautious environment, led by N. Korea's latest missile launch on Friday, did little to lend any support to the Japanese Yen's safe-haven appeal, with strong bullish sentiment around the GBP acting as an exclusive driver of the pair's spike to fresh post-Brexit highs.
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