Bank of Japan’s Ueda speech awaited as yen consolidates against G-10 currencies

The post Pound Strengthens Against Yen As Bank Of England’s Bailey Strikes Hawkish Tone appeared on BitcoinEthereumNews.com. Pound Strengthens Against Yen As Bank Of England’s Bailey Strikes Hawkish Tone Skip to content Home Forex News Pound Strengthens Against Yen as Bank of England’s Bailey Strikes Hawkish Tone Source: https://bitcoinworld.co.in/pound-strengthens-against-yen-bailey-hawkish/

The post GBP/JPY Price Forecast: Pound retreats below 214.00 as Japanese data supports Yen appeared on BitcoinEthereumNews.com. The British Pound (GBP) is practically flat against the Japanese Yen (JPY) on Friday, trading a few pips below 214.00 at the time of writing, after bouncing from weekly lows near 213.35 on Thursday. The pair remains on track for its second consecutive weekly gain, although a string of positive Japanese data has provided some respite to a weak Japanese Yen.  Tokyo Consumer Prices Index (CPI) data released earlier on Friday has shown easing inflationary pressures in May. Nevertheless, stronger-than-expected Industrial Production data, an unexpected decline in unemployment, and upbeat Retail Trade figures have revealed that the economy remains resilient, despite the energy shock, and feed hopes that the Bank of Japan (BoJ) will hike rates in June. Later on the day, Bank of England (BoE) Governor Andrew Bailey is expected to speak at the Reykjavik Economic Confere

The post Japanese Yen: Approaching intervention zone against USD – Societe Generale appeared on BitcoinEthereumNews.com. Societe Generale analysts note USD/JPY grinding towards 160 as widening 2-year UST/JGB spreads dominate over Oil moves for the Japanese Yen (JPY). The pair trades within 1% of the late-April intervention level, with markets assuming a 25 bp Bank of Japan (BoJ) hike in June. They highlight key intraday support, resistance and sizeable option expiries. Spreads drive Yen weakness “Spot advances to new May high tracking oil, US yields. Support 158.70, resistance 160.70.” “In G10 FX, it is puzzling to observe USD/JPY grinding towards 160, tracking the re-widening in 2y UST/JGB spread to 270bp.” “The level in spreads is not insignificant technically and corresponds with the previous high of Nov-25. It also demonstrates that bond spreads hold greater sway at present over oil prices in the case of the Yen.” “Hawkish declarations by Governor Ueda earlier this week appear to h

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The post Yen’s Rescue Rally Fades As Carry Trade Math Reasserts Dominance appeared on BitcoinEthereumNews.com. Yen’s Rescue Rally Fades As Carry Trade Math Reasserts Dominance Skip to content Home Forex News Yen’s Rescue Rally Fades as Carry Trade Math Reasserts Dominance Source: https://bitcoinworld.co.in/yen-carry-trade-rescue-fades/

BOJ's steady rates amid oil shock concerns may sustain yen carry trade, impacting global markets and crypto investments until June review. The post Bank of Japan’s Ueda warns of oil shock impact on inflation, keeps rates steady at 0.75% appeared first on Crypto Briefing.

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