The currency pair weakens as Japan’s stronger Q1 GDP bolsters the yen before key UK jobs figures.
The GBP/JPY cross fell to 213.15 in early European trading, extending losses as Japan’s first-quarter GDP growth exceeded expectations. The data lent support to the yen, pressuring the pair ahead of upcoming UK employment reports.
Prior to the dip, GBP/JPY had traded near 214.00, with market focus shifting to UK wage and unemployment data due later this week. Analysts expect the figures to influence Bank of England policy expectations, adding volatility to sterling crosses.
No immediate market reaction was reported, though traders remain cautious ahead of the data release.