Strategists at Bank of Tokyo-Mitsubishi UFJ Ltd. in London advise investors to sell pounds versus Japanese yen. Such recommendations are based on the expectations of declining pace of Britain’s economic growth caused by austerity measures such as spending cuts. As a result, the Bank of England will have to keep the benchmark interest rate at the minimal level to stimulate the economy. The specialists forecast that sterling will lose 8% against yen lowering to 123 yen per pound.



Chart. Daily GBP/JPY

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