Euro rises against Japanese Yen as latter underperforms across the board

The post WTI surges above $74 as Trump confirms MoU with Iran is over appeared on BitcoinEthereumNews.com. West Texas Intermediate (WTI), futures on NYMEX, soars 3.2% to near $74.30 during the European trading session on Wednesday, the highest level seen in two weeks. The oil price surges as the confirmation from United States (US) President Donald Trump that the memorandum of understanding (MoU) with Iran, which aimed at ending the war in the Middle East, is over, has revived risks of global energy supply disruption. Speaking at the NATO summit in Ankara, Türkiye, US President Trump said, I think the MoU with Iran is over.” Trump added, “We attacked very powerfully last night, the very dangerous people from Iran. They’re sick; there’s something wrong with them,” Moneycontrol reported. Last night, the US Central Command confirmed attacking Iran’s military infrastructure in response to Tehran striking commercial ships transiting through the Strait of Hormuz, a vital passage to almost on

The post GBP/JPY Price Forecasts: Pound nears 217.00 with the 217.24 all-time high eyed appeared on BitcoinEthereumNews.com. The British Pound (GBP) has resumed its broader uptrend against the Japanese Yen (JPY) on Wednesday, with price action drawing closer to the 217.00 level and the all-time high of 217.22, on the bulls’ focus. Some dovish comments by a Bank of Japan (BoJ) official have cast doubt about the BoJ’s monetary tightening plans and added pressure on an already weak Yen. Earlier on Wednesday, the Japanese central bank’s committee member Toichiro Asada, the lone vote opposing June’s interest rate hike, affirmed that he needs to see evidence of demand-driven inflation to support further monetary tightening.  Asada is the latest appointment to the bank’s government board, and has been hand-picked by Prime Minister Sanae Takaichi, who has repeatedly voiced her preference for low interest rates to promote economic growth. The BoJ official assured that he is “not always opposed”

The post Japanese Yen: Weak tone within defined trading band against US Dollar – UOB appeared on BitcoinEthereumNews.com. United Overseas Bank’s (UOB) Quek Ser Leang highlights that USD/JPY is trading firmly after a sharp rise, with intraday bias tilted higher toward 162.70 while major resistance at 163.00 is expected to hold. On a 1–3 week horizon, the bank sees a mixed outlook with the pair likely confined between 160.60 and 163.00, though the medium-term trend can extend if above 161.00. USD/JPY upside bias capped below 163.00 “24-HOUR VIEW: Two days ago, USD soared to a high of 162.42. Yesterday, we highlighted the following: “The rapid rise appears excessive, and the pullback from overbought conditions suggests limited further upside for USD. Today, USD could trade in a range between 161.50 and 162.45.” USD then traded within a narrower range than expected (161.66/162.18) before closing marginally higher by 0.01% at 162.09. USD traded on a firm note in the early Asian trade today,

Rising oil prices threaten Europe's economic stability, impacting ECB policies and potentially influencing global crypto market dynamics. The post Euro bears return as surging oil prices test currency rebound appeared first on Crypto Briefing.

The post Euro: Range trade around key supports against US Dollar – UOB appeared on BitcoinEthereumNews.com. United Overseas Bank’s (UOB) Quek Ser Leang highlights EUR/USD’s failure to extend its recent advance, with momentum fading after a retreat from recent highs. The pair is now seen oscillating between 1.1360 and 1.1450 in coming weeks, while intraday price action may test 1.1390 without threatening the more important 1.1360 support unless the 1.1430 resistance breaks. Momentum fades into sideways pattern “24-HOUR VIEW: Two days ago, EUR traded within a range of 1.1408/1.1444 and closed largely unchanged at 1.1440 (+0.04%). Yesterday, we stated that we “continue to expect range-trading, but the firmer underlying tone suggests EUR is likely to trade in a higher range of 1.1425/1.1470.” Our assessments turned out to be incorrect, as EUR fell to a low of 1.1407. Despite the relatively sharp decline, downward momentum has not increased much. However, there is scope for EUR to dip below

The post AUD/JPY Price Forecast: Edges higher above 112.50 as mildly bullish bias persists appeared on BitcoinEthereumNews.com. The AUD/JPY cross gathers strength to around 112.70 during the early European session on Wednesday. Nonetheless, renewed tensions between the US and Iran, and fears of possible intervention by Japanese authorities might support the Japanese Yen (JPY) and cap the upside for the cross. BBC reported on Tuesday that the US launched “powerful” strikes on Iran in response to attacks on three oil tankers in the Strait of Hormuz. US Central Command (Centcom) said that it had hit over 80 targets, including more than 60 Islamic Revolutionary Guard Corps (IRGC) small boats in the strait. Technical Analysis: In the daily chart, AUD/JPY holds above the 100-day moving average (MA) and the Bollinger Bands’ (20) middle band, keeping the broader trend supported after the latest rebound. Price is also comfortably above the lower Bollinger band, while the Relative Strength Index

The post Euro gains as US Dollar moves sideways amid market caution appeared on BitcoinEthereumNews.com. EUR/USD maintains its position after registering modest losses in the previous day, trading around 1.1410 during the Asian hours on Wednesday. Traders’ attention is focused on Wednesday’s release of the US Federal Reserve (Fed) Meeting Minutes, the first under newly appointed Chairman Kevin Warsh, for crucial clues regarding the future path of US interest rates. The EUR/USD holds minor gains as the US Dollar (USD) inches lower after experiencing volatility. The Greenback may regain its ground amid rising safe-haven demand and renewing geopolitical tensions. US airstrikes against Iran came in response to Iranian attacks on commercial vessels in the crucial Strait of Hormuz, including a Qatari LNG carrier and a Saudi oil tanker. Iranian Parliament Speaker Mohammad Bagher Ghalibaf warned that the era of bullying and extortion has ended and insisted that Iran will not fold under pressur

The post Euro struggles above 1.1400 vs USD as Iran tensions support USD appeared on BitcoinEthereumNews.com. The EUR/USD pair defends the 1.1400 mark during the Asian session on Wednesday, though it struggles to attract any meaningful buyers on the back of renewed US-Iran hostilities. Traders also seem hesitant and opt to wait for FOMC Minutes for more cues about the Federal Reserve’s (Fed) policy path before placing fresh directional bets. The US military launched unleashed a new wave of strikes against Iran on Tuesday following reports of attacks on three oil tankers in the Strait of Hormuz, jeopardizing the already fragile ceasefire. Traders were quick to price in the geopolitical risk premium amid concerns about a further escalation of tensions, which is seen underpinning the safe-haven US Dollar (USD) and acting as a headwind for the EUR/USD pair. Meanwhile, the US also moved to withdraw a key concession that allowed Iran to sell oil on international markets, triggering a sharp r