Looking to buy the GBP/JPY
this morning as the CPI
y/y figure is expected to show an increase in inflation
which could bring forward the expectation of an interest rate hike from the BoE. On the other side of the trade the JPY is particularly weak at the moment with a poor Prelim GDP reading on Sunday evening and expected intervention from the BoJ in the FX market to keep their currency weak in order to aid exports; which in turn should help bolster the economy. there is alos talk of a a further rate cut from the BoJ.