British Pound rises against Japanese Yen despite BoJ Ueda reiterates hawkish outlook
- The British Pound jumps higher against the Japanese Yen at around 210.50.
- BoJ’s Ueda argues in favor of maintaining a hawkish policy stance.
- Investors await the UK employment and inflation data.
The British Pound (GBP) trades 0.4% higher at around 210.50 against the Japanese Yen (JPY) during the European trading session on Friday. The cross gains significantly as the Asia-Pacific currency underperforms even as Bank of Japan (BoJ) Governor Kazuo Ueda has delivered hawkish remarks on the monetary policy outlook.
Japanese Yen Price Today
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the weakest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.21% | -0.33% | 0.00% | -0.14% | -0.50% | -0.81% | -0.27% | |
| EUR | 0.21% | -0.13% | 0.18% | 0.06% | -0.27% | -0.62% | -0.07% | |
| GBP | 0.33% | 0.13% | 0.34% | 0.21% | -0.15% | -0.47% | 0.07% | |
| JPY | 0.00% | -0.18% | -0.34% | -0.11% | -0.48% | -0.77% | -0.25% | |
| CAD | 0.14% | -0.06% | -0.21% | 0.11% | -0.35% | -0.73% | -0.14% | |
| AUD | 0.50% | 0.27% | 0.15% | 0.48% | 0.35% | -0.33% | 0.24% | |
| NZD | 0.81% | 0.62% | 0.47% | 0.77% | 0.73% | 0.33% | 0.57% | |
| CHF | 0.27% | 0.07% | -0.07% | 0.25% | 0.14% | -0.24% | -0.57% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
Ueda flags ongoing rate hikes as inflation nears target, lifting Yen outlook
FXS Speechtracker scores this speech at 8.2, notably above Governor Ueda’s historic 7.3 average, signalling a stronger-than-usual policy signal. The emphasis on continuing to raise the policy rate, with underlying inflation approaching and potentially overshooting the 2% target, marks a clear hawkish tilt that supports a firmer Yen bias.
By stressing that stabilising inflation around 2% is now more important than in the past, while noting that financial conditions remain accommodative even after the September hike, the speech reinforces expectations of further gradual tightening. The data-dependent framing of future adjustments, tied to baseline projections and risks, underpins a controlled but persistent normalisation path that should keep upward pressure on Yen yields and support Yen on dips.
Earlier in the day, United States (US) Treasury Undersecretary for International Affairs, Erin Browne, said on Friday that Japan is no longer faces deflationary environment, and the Japanese Yen (JPY) level and monetary policy must change along with that. Treasury Undersecretary for International Affairs Browne added, “US-Japan communicate closely and work together at all levels to support stable, well-functioning markets.”
On the British Pound, the currency is expected to face high volatility next week as the United Kingdom (UK) labor market data for three months ending August and the Consumer Price Index (CPI) data for September are scheduled to be released on Tuesday and Wednesday, respectively.
The UK data is expected to have a significant impact of Bank of England’s (BoE) interest rate expectations.
Economic Indicator
ILO Unemployment Rate (3M)
The ILO Unemployment Rate released by the UK Office for National Statistics is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the UK Economy. If the rate goes up, it indicates a lack of expansion within the UK labor market. As a result, a rise leads to a weakening of the UK economy. Generally, a decrease of the figure is seen as bullish for the Pound Sterling (GBP), while an increase is seen as bearish.
Read more.Last release: Tue Sep 15, 2026 06:00
Frequency: Monthly
Actual: 4.9%
Consensus: 5%
Previous: 4.9%
Source: Office for National Statistics
The Unemployment Rate is the broadest indicator of Britain’s labor market. The figure is highlighted by the broad media, beyond the financial sector, giving the publication a more significant impact despite its late publication. It is released around six weeks after the month ends. While the Bank of England is tasked with maintaining price stability, there is a substantial inverse correlation between unemployment and inflation. A higher than expected figure tends to be GBP-bearish.
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