British Pound Holds Above 1.3500 But Remains Vulnerable Near Two-Week Low

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 Pound Sterling Price News and Forecast: GBP/USD languishes near a two-week low appeared on BitcoinEthereumNews.com. British Pound seems vulnerable near two-week low vs USD; GBP/USD holds above 1.3500 The GBP/USD pair struggles to capitalize on the previous day’s late bounce from the 1.3500 psychological mark, or a nearly two-week low, and oscillates in a narrow band during the Asian session on Wednesday. Spot prices remain below the 1.3550 level and seem vulnerable to weaken further amid a combination of negative factors. The British Pound (GBP) continues to be undermined by a severe political crisis in the UK, with over 80 Labour MPs calling for Prime Minister Keir Starmer to resign following disastrous local election results. The US Dollar (USD), on the other hand, is seen consolidating the previous day’s strong gains to an over one-week high as hot US inflation data reaffirmed bets for a rate hike by the Federal Reserve (Fed). These turn out to be key factors acting as a he

The post Malaysian Ringgit Holds Steady As Economy Outperforms Expectations: Commerzbank appeared on BitcoinEthereumNews.com. Malaysian Ringgit Holds Steady As Economy Outperforms Expectations: Commerzbank Skip to content Home Forex News Malaysian Ringgit Holds Steady as Economy Outperforms Expectations: Commerzbank Source: https://bitcoinworld.co.in/malaysian-ringgit-holds-steady-commerzbank/

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 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

The post GBP/JPY Price Forecasts: Bulls are pushing towards 214.10 resistance area appeared on BitcoinEthereumNews.com. The British Pound (GBP) is drawing support from a weak Japanese Yen (JPY) on Monday, with bulls aiming for the top of last week´s trading range at the 214.00-214.25 area. The recent jump in Oil prices is hurting the Yen across the board, while the Pound shrugs off concerns about the weakness of the Labour cabinet. The Yen is suffering amid rising Oil prices after US President Donald Trump dismissed the latest peace proposal submitted by Tehran. The barrel of Brent Oil appreciated to $103.00 from lows near $97.00 last week, and the WTI trades at $94.60, up from Friday’s close at $91.30. These prices pose a serious challenge to economic growth, as Japan is a net Oil importer, and add pressure on an already strained fiscal stability through energy subsidies. The Pound, on the other hand, is shrugging off fears of political uncertainty with Prime Minister Keir Starmer ser