GBP/JPY is making a striking recovery at the start of the new week with one Pound strengthening to a level where it can buy over 151 Yen on the interbank market.
Read more: Pound-to-Yen Rate Forecast for Week Ahead: More Gains Seen
The Yen is on the rise, having rallied over 1.2% in the last 24 hours after both domestic and global tensions ratcheted up another notch.
Read more: Yen a Strategic Buy as Moritomo Scandal Starts to Put Questions on Prime Minister Abe's Tenure
Seasonal factors are expected to continue boosting the Japanese currency.
Read more: Demand for Japanese Yen will Only Increase as end-March Approaches
The fallout from the scandal could mean the end of Abenomics one of the prime drivers of a weaker Yen.
Read more: Yen Catches a Bid as Political Scandal Places Question Over Future of Abenomics
Yen pairs are surging and the Pound-to-Yen rate, sitting at a destiny-defining level, is no exception.
Read more: Japanese Yen: GBP/JPY at Crossroads and Poised for a Break of Major Trend LineAdvertisement
