SocGen Forecast: Pound will Struggle in H2 2025, Sell GBP/JPY Target 189

  • The Pound to Yen (GBP/JPY) exchange rate hit 2025 highs around 198.80 in late June amid a jump in Middle East fears before weakening to around 196.40 as oil prices have retreated with the Pound also losing ground amid domestic budget concerns. SocGen expects the Pound to lose ground over the second half of 2025 with net yen gains.