The currency pair remains nearly flat near mid-213 levels amid subdued demand for GBP and intervention concerns supporting JPY.
The GBP/JPY cross trades just below 213.50, failing to extend its modest recovery from the previous session. Political uncertainty in the UK continues to dampen demand for the pound, offsetting any upward momentum.
Spot prices have seen little movement in early European trading, reflecting mixed fundamental drivers. The pair had attempted a minor rebound but remains constrained by broader market caution.
Intervention fears in Japan provide some support for the yen, keeping the cross rangebound. Market participants await further cues on UK policy and economic data for direction.