The Japanese Yen has the upper hand against the Sterling amid BOJ rate hike expectations, dragging the pair below 191.00 mark.

The GBP/JPY pair tumbled below 191.15 mark registering losses for third day straight amid Bank of England and Bank of Japan policy divergence. Britain's labour market languished lately with a slowdown in hiring. With stagnant productivity and inflationary environment, UK's future economic outlook still looks sluggish. All eyes will be on Britain's monthly GDP numbers releasing later this week which is likely to impact BOE's monetary policy. The Bank of England is anticipated to hold its interest rest steady at 4.5%. Meanwhile, the Yen continues to take support from BOJ's rate hike expectations, appreciating against its peers. BOJ Deputy Minister Uchida indicated last week that an increase in the key interest rates is highly likely which could have broadening effects on the economy.