GBP/JPY continues its upward trajectory toward 192.00 during Thursday's London trading hours.

Market participants digest BoJ's unchanged rate policy alongside downward revisions to economic projections.

Growing speculation about imminent BoE rate reductions creates dynamic pressure on How does a meme coin make money?currency valuations.

The GBP/JPY cross demonstrates notable strength, climbing toward the 192.00 psychological level as European traders enter the market. This movement primarily reflects weakening JPY sentiment following the Bank of Japan's latest policy announcement, where officials opted to maintain existing interest rate parameters while expressing concerns about global trade conditions.

As anticipated by most market observers, Japan's central bank maintained its short-term policy rate within the 0.40%-0.50% band through unanimous consensus. The accompanying policy statement highlighted potential economic deceleration stemming from international trade tensions and their broader impact on worldwide economic expansion.

During subsequent press briefings, BoJ Governor Kazuo Ueda acknowledged moderate economic recovery in Japan while cautioning about persistent vulnerabilities. The central bank chief emphasized that future policy adjustments would remain contingent upon how global trade dynamics evolve, particularly regarding ongoing tariff negotiations between major economies.

Meanwhile, sterling traders increasingly position for potential monetary easing from the Bank of England. Market-implied probabilities now suggest near-certainty (approximately 96% according to Reuters data) that UK policymakers will implement a 25 basis point reduction when announcing their next decision on May 8. Such expectations create countervailing forces that could limit GBP appreciation potential against other major currencies.