The Pound has lost more than 100 pips against JPY in the first minutes after the BoE monetary policy decision to hold unchanged its interest rate at 0.50%. GBP/JPY has fallen from 150.50 to reach 149.35. Currently the pair is trading around 149.65/75, 0.30% above today's opening price action.
The Bank of England has decided to leave its official bank rate unchanged at 0.5%at its May monetary policy meeting and to continue with the program of asset purchases financed by the issuance of central bank reserves and increase its size by GBP50 billion to a total of GBP125 billion.
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