GBP/JPY
GBP/JPY is a currency pair that represents the exchange rate between the British Pound (GBP) and the Japanese Yen (JPY). It is one of the most popular currency pairs in the world and is traded by many investors and speculators. The GBP/JPY rate is determined by the supply and demand of the two currencies in the foreign exchange market. The pair is often used as a hedge against currency fluctuations and is also used to speculate on the direction of the exchange rate.
History of GBP/JPY
The GBP/JPY currency pair has been around since the early 1900s. It was first traded in the Tokyo Foreign Exchange Market in the 1920s. Since then, the pair has become one of the most popular currency pairs in the world. The pair is often used as a hedge against currency fluctuations and is also used to speculate on the direction of the exchange rate.
The GBP/JPY rate is affected by a variety of factors, including economic and political events in both the UK and Japan. The Bank of England and the Bank of Japan both have a significant influence on the exchange rate. Other factors that can affect the rate include the performance of the UK and Japanese economies, the strength of the British Pound and the Japanese Yen, and the demand for the two currencies in the foreign exchange market.
Comparison Table
| Currency | GBP/JPY |
|---|---|
| Current Exchange Rate | 142.50 |
| 1 Month Change | +2.50% |
| 1 Year Change | +7.50% |
Summary
GBP/JPY is a popular currency pair that represents the exchange rate between the British Pound and the Japanese Yen. The pair is often used as a hedge against currency fluctuations and is also used to speculate on the direction of the exchange rate. The rate is affected by a variety of factors, including economic and political events in both the UK and Japan. For more information about the GBP/JPY currency pair, you can visit websites such as Investopedia, Bloomberg, and Reuters.
See Also
- EUR/JPY
- USD/JPY
- GBP/USD
- EUR/USD
- AUD/JPY
- CAD/JPY
- CHF/JPY
- NZD/JPY
- GBP/CHF
- GBP/AUD
