The currency pair climbs to its highest level this month as the Japanese Yen remains under pressure.
The GBP/JPY cross reached a new monthly high early Monday, trading just above 217.00. Dip-buyers entered near 216.20 during the European session, pushing the pair higher amid broad-based Yen weakness.
The move extends recent gains, with spot prices now poised for further appreciation. The Japanese Yen has faced persistent selling pressure, contributing to the pair’s rally.
No immediate market reaction was specified, but the trend suggests continued strength for the British Pound against the Yen.