The post Euro moves little against Japanese Yen as risk aversion increases appeared on BitcoinEthereumNews.com.
EUR/JPY remains flat after registering modest losses in the previous day, trading around 185.00 during the Asian hours on Wednesday. The currency cross remains stable as the Euro’s (EUR) decline is driven by a wave of risk aversion following faded hopes for Middle East peace, which effectively offsets Japanese Yen (JPY) weakness. However, the Japanese Yen may gain ground against its major peers as the Bank of Japan’s April Summary of Opinions revealed that policymakers are considering further rate hikes as early as their next meeting, driven largely by inflation risks linked to rising oil prices. The Organisation for Economic Co-operation and Development (OECD) has recommended that Japan primarily utilize consumption tax increases to bolster its national revenue. On the monetary front, the Bank of Japan (BOJ) is projected to raise short-term policy rates to 2% by the end of 2
The post British Pound softens against Japanese Yen amid rising uncertainty over UK leadership appeared on BitcoinEthereumNews.com.
GBP/JPY extends losses for the second consecutive day on Wednesday as the British Pound (GBP) comes under broad pressure, weighed down by rising political uncertainty in the United Kingdom. At the time of writing, the cross is trading around 213.08, easing from an intraday high near 213.70 and down roughly 0.15% on the day. Political pressure on UK Prime Minister Keir Starmer intensified after the Labour Party suffered heavy losses in last week’s local elections. Reports suggest that more than 80 Labour MPs have called on Starmer to resign, while four cabinet ministers have already stepped down amid mounting pressure. UK Health Secretary Wes Streeting is reportedly emerging as a potential leadership challenger. Starmer has confirmed that he will not resign from his post, while allies close to the Prime Minister reportedly said he is prepared to face Street
The post Euro reversal against British Pound nears 0.8650 after soft Eurozone data appeared on BitcoinEthereumNews.com.
The Euro (EUR) is showing one of the weakest performances among the G8 currencies on Wednesday, and extends its reversal against the British Pound (GBP) to levels nearing 0.8650 at the time of writing, after failing at the 0.8700 area on Tuesday. The common currency has been weighed by uninspiring Eurozone Gross Domestic Product (GDP) and Industrial Production figures, while the Pound skips concerns about the UK’s political turmoil for now. The Eurozone’s Q1 GDP’s second estimation, released earlier on Wednesday, confirmed the advanced figures of a meagre 0.1% growth in the first three months of the year, down from 0.2% in the previous quarter. Year-on- year, the Eurozone economy grew at a 0.8% pace, according to the data, following a 1.3% upwardly revised growth in Q4. Beyond that, Eurozone Industrial Production figures have shown a 0.2% increase in March, undershoo
The post Japanese Yen Recovery Faces Key Resistance Near 158.30, Says UOB appeared on BitcoinEthereumNews.com.
Japanese Yen Recovery Faces Key Resistance Near 158.30, Says UOB Skip to content
Home Forex News Japanese Yen Recovery Faces Key Resistance Near 158.30, Says UOB
Source: https://bitcoinworld.co.in/japanese-yen-recovery-resistance-158-30-uob/
The post Euro extends losses below 1.1700 as Eurozone data disappoints appeared on BitcoinEthereumNews.com.
The Euro (EUR) extends losses against the Dollar (USD) for the second consecutive day on Wednesday, trading below 1.1700 at the time of writing after rejection at 1.1790 on Tuesday. Eurozone Gross Domestic Product (GDP) and, above all, Industrial Production figures have failed to meet expectations, increasing bearish pressure on the Euro. The second estimate of the Eurozone’s GDP confirmed that the economy grew at a meager 0.1% pace in the first three months of the year, and 0.8% in the previous 12 months, down from 0.2% and 1.2%, respectively, in Q4. Beyond that, Eurozone Industrial Production figures have shown a 0.2% growth in March, below the 0.3% market forecast, and February’s figures have been revised down to 0.2% from the previously estimated 0.4% rise. Year-on-year, factory output has accelerated its contraction, to -2.1% in March, from -0.8% in the previous month. The
The post British Pound: Political risk premium builds against Euro – ING appeared on BitcoinEthereumNews.com.
ING’s Francesco Pesole highlights rising political uncertainty in the United Kingdom (UK) as calls grow for Prime Minister Keir Starmer’s resignation, with betting markets seeing a high chance he leaves office this year. He notes emerging political risk premium in EUR/GBP and warns sterling could face further pressure as markets assess leadership contenders and fiscal-rule credibility. Sterling pressured by UK political turmoil “The pound started coming under pressure yesterday afternoon (after a strong session) as calls for Starmer’s resignation intensified. For the first time in a long time, some political risk premium seems to be emerging in EUR/GBP.” “That is, however, still small according to our model, around 0.3% short-term overvaluation.” “The pound has plenty of additional room to build a negative premium, with markets likely to shift their focus to which candidate hol
The post Japanese Yen Faces Intervention Doubts And BoJ Rate Hike Risks, BBH Analysts Warn appeared on BitcoinEthereumNews.com.
Japanese Yen Faces Intervention Doubts And BoJ Rate Hike Risks, BBH Analysts Warn Skip to content
Home Forex News Japanese Yen Faces Intervention Doubts and BoJ Rate Hike Risks, BBH Analysts Warn
Source: https://bitcoinworld.co.in/japanese-yen-intervention-doubts-boj-hike-risk-bbh/
The post Japanese Yen: Intervention doubts and BoJ hike risk – BBH appeared on BitcoinEthereumNews.com.
Brown Brothers Harriman (BBH) Elias Haddad notes that USD/JPY has rebounded toward 157.75 after testing 155.00, with 160.00 described as a key line in the sand. Haddad says the Bank of Japan’s (BoJ) April Summary of Opinions did not materially shift rate expectations, though it signals a lower bar to hike. Markets still price about 75% odds of a 25 bps BoJ rate increase to 1.00% next month. Yen pressured as BoJ stays cautious “USD/JPY rebounded to 157.75 after testing a two-month low near 155.00 last week, with 160.00 remaining the major line in the sand on the topside. The Bank of Japan (BOJ) Summary of Opinions from the April 27-28 board meeting did not move the needle on rate hike expectations. The swaps market continues to price-in about 75% odds of a 25bps BOJ rate hike to 1.00% next month.” “The April Summary of Opinions reflected the 6 hold-3 hike votes split while signaling a
The post British Pound drops vs JPY on intervention fears, UK political turmoil appeared on BitcoinEthereumNews.com.
The GBP/JPY cross struggles to capitalize on the previous day’s bounce from the 100-day Simple Moving Average (SMA) and attracts heavy intraday selling on Tuesday. Spot prices maintain an offered tone through the early part of the European session and currently trade around the 213.00 mark, down over 0.40% for the day. The Japanese Yen (JPY) strengthens across the board after US Treasury Secretary Scott Bessent confirmed through a post on X that the US and Japan took some actions together against excessive volatility in currency markets. The comments fueled fresh speculations that authorities will step in again to stem further weakness in the JPY, which turns out to be a key factor exerting pressure on the GBP/JPY cross. Meanwhile, the summary of Opinions from the Bank of Japan’s (BoJ) April meeting left the door open for an imminent interest rate hike. This helps offset
