British Pound retreats from multi-year highs as JPY strengthens
The post British Pound retreats from multi-year highs as JPY strengthens appeared on BitcoinEthereumNews.com. The GBP/JPY cross attracted heavy selling on Friday, snapping a two-day winning streak to the highest level since January 2008, around the 218.00 mark set the previous day. The intraday descent drags spot prices below the 217.00 mark during the first half of the European session amid a broadly firmer Japanese Yen (JPY). The Japanese Yen (JPY) rallies across the board after Japan’s Finance Minister Satsuki Katayama said that the government plans to encourage pension funds to increase their holdings of domestic financial assets. She added that the government anticipates gradual increases in interest rates as it pursues a proactive fiscal policy stance, and that she wants to speed up discussions on expanding JGB products aimed specifically at households. A larger and steadier base of long-horizon domestic buyers could help absorb increased bond issuance tied to Japan’s fiscal expa