GBPJPY BUY

The GBP/JPY cross turns positive for the second successive day following an early dip to the 188.40 region on Wednesday and looks to build on the overnight bounce from a near one-month low. Spot prices, meanwhile, react little to the UK macro data and hold steady around the 189.00 mark during the early European session.

The Japanese Yen (JPY) meets with a fresh supply after the Bank of Japan (BoJ) Governor Kazuo Ueda reiterated that the central bank will seek an exit from easy policy when achievement of 2% inflation is in sight. The comments smashed hopes for an imminent shift in the BoJ's policy stance next week, which, in turn, undermines the JPY and assists the GBP/JPY cross to attract some dip-buying.