GBPJPY Holds Above 216 Near 2008 Highs Despite Multiple Yen Interventions

GBPJPY trades firmly above 216.00—highest since January 2008—showing resilience amid repeated suspected Japanese interventions on May 1. The pair dipped to 210.46 on the first confirmed action in nearly two years, then 211.78 and 211.50 on follow-ups after USDJPY crossed 160.00, with estimated $30bn spent driving USDJPY to ~155.50. Rebounds to 214.00+ were powered by BoE's 3.75% rate hold (8-1 vote) versus BoJ's -0.1%, bolstering carry trades. Bullish technicals above key MAs target 218.00 pre-BoE, but RSI near 70 flags pullback risks.