GBPJPY in focus

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Upside potential?The BoE met last week and it was this line in the minutes that led to the surge higher in the pound. A line concerning hiking interest rates, Some developments during the intervening period appear to have strengthened that case (for hiking rates), although considerable uncertainties remain. Reading through the minutes it was clear to see that the Bank of England were concerned about inflation. In particularrising natural gas prices was a worry to the BoE. However, it was this line that got my attention, 'the MPC's remit is clear that the inflation target applies at all times, reflecting the primacy of price stability in the UK monetary policy framework'.Money markets priced in a 15bps rate hike in March bringing forward from June next year after the release.The JPY should remain weak with the BoJ expected to keep interest rates at their current, low levels, aThe US10 year yields breaking higher give the JPY reason for mor
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