• The GBP/JPY is trading into the high side for Monday.
• Yen options expiries fueled a spike across Yen pairs, but moves proved short-lived.
• UK, Japan data due rounding the corner into the mid-week.

The GBP/JPY is trading back into recent highs after a spike in Yen rates fueled by Yen-based options expiries failed to generate meaningful moves.

Large blocks of Yen options expiries hit markets, sending JPY-based pairs tumbling on reaction, but technical impacts quickly evaporated and pair are now trading back into the top side.

Japanese Finance Minister Shunichi Suzuki hit markets earlier in the day with constantly-reiterated warnings that the Japanese government is "watching currency markets closely", an oft-lofted threat that has essentially become background noise for investors.

UK wages and labor figures are due Tuesday, with Japanese Gross Domestic Product numbers slated for early Wednesday.

UK Average Earnings are expected to slip from 7.8% to 7.7% for the 3rd quarter ending September, while Japan's 3rd quarter GDP is forecast to return to declines, expected to print at -0.1% compared to the 2nd quarter's 1.2% growth