British Pound retreats from multi-year highs as JPY strengthens

The post British Pound surrenders early gains as US Dollar regains ground appeared on BitcoinEthereumNews.com. The British Pound (GBP) gives back its early gains and turns almost flat around 1.3410 against the US Dollar (USD) during the European trading session on Friday. The GBP/USD pair falls back as the US Dollar regains ground amid fears that the restart of the war between the United States (US) and Iran would last long. US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the Japanese Yen. USD EUR GBP JPY CAD AUD NZD CHF USD -0.02% -0.03% -0.44% -0.00% -0.04% -0.21% -0.06% EUR 0.02% -0.01% -0.41% 0.02% -0.03% -0.19% -0.04% GBP 0.03% 0.01% -0.39% 0.03% -0.02% -0.17% -0.04% JPY 0.44% 0.41% 0.39% 0.44% 0.40% 0.21% 0.36% CAD 0.00% -0.02% -0.03% -0.44% -0.04% -0.21% -0.07% AUD 0.04% 0.03% 0.02% -0.40% 0.04% -0.17% -0.06% NZD 0.21% 0.19% 0.17% -0.21% 0.21% 0.17% 0.13% CHF 0.06% 0.04%

The post USD/JPY Price Forecast: Dollar finds resistance at the 161.75 previous support appeared on BitcoinEthereumNews.com. The US Dollar (USD) holds losses below 161.75 against the Japanese Yen (JPY) on Friday following a 100-pip reversal earlier on the day. Japanese Finance Minister Satsuki Katayama announced a plan to boost pension funds’ investment in domestic assets, which sent the Yen surging across the board during the Asian trading session. Katayama said on Friday that the government wants the giant Japanese pension funds, which manage more than USD 1.8 trillion in assets, to redirect their investment into the domestic market. The market has seen this plan as more effective than interventions to support the Yen, and the immediate reaction was a strong JPY recovery. The US Dollar, on the other hand, remains moderately soft, amid rumours that Qatar and Pakistan are working to bring US and Iran back to the negotiating table. Beyond that, the release of the minutes of June’s Feder

The post Japanese Yen: Policy shift talk supports JPY – MUFG appeared on BitcoinEthereumNews.com. MUFG’s Derek Halpenny notes the Japanese Yen is leading G10 gains after Finance Minister Katayama unexpectedly urged households and the GPIF to increase investments in Japanese financial assets. He stresses these policy shifts will take time, with Bank of Japan (BoJ) credibility still crucial before domestic investors materially reallocate from foreign assets back into JGBs, limiting near-term Yen impact. Katayama comments lift Japanese Yen “The yen is the top performing G10 currency today with the move triggered by a remark at a regular press conference by Finance Minister Katayama.” “In discussing government investment plans Katayama stated that it was now a government priority to “encourage households, as well as pension funds including the GPIF, to increase their investments in Japanese financial assets”. This has come from nowhere and hence the surprise has had a notable impact not ju

The post Euro remains pinned at one-year lows against the British Pound as Euro Area inflation moderates appeared on BitcoinEthereumNews.com. The Euro (EUR) remains on the defensive against the British Pound (GBP) on Friday, with the EUR/GBP pair unable to take off from one-year lows at the 0.8515 area. Data from Germany and France confirmed that inflationary pressures moderated in June, which added pressure on the common currency. In Germany, the final Harmonized Index of Consumer Prices (HICP) confirmed previous estimations showing that inflation grew at a 2.4% year-over-year (y-o-y) rate in June, down from 2.7% in May and from April’s 2.9% peak. Monthly inflation contracted 0.2%, also in line with preliminary estimations, following a 0.1% contraction in May. Likewise, France’s Consumer Price Index (CPI) confirmed that yearly inflation eased to a 2% y-o-y rate in June, from the 2.8% reading witnessed in May. Monthly inflation contracted at a 0.3% pace, following a 0.1% uptick in the

The post British Pound: Upside risk toward resistance against US Dollar – UOB appeared on BitcoinEthereumNews.com. According to UOB’s Quek Ser Leang, GBP/USD’s sharp rebound has left scope to test major resistance at 1.3445, though a clear break is seen as unlikely in the near term. Short-term support lies at 1.3390 and 1.3360. Over one to three weeks, strengthened momentum could open 1.3480 if 1.3445 gives way, while broader ranges dominate over months. Pound testing key resistance band “24-HOUR VIEW: GBP fell to 1.3315 on Wednesday and then rebounded strongly. When GBP was at 1.3390 in the early Asian session yesterday, we highlighted that “the sharp rebound appears to be overdone, but there is a chance for GBP to test 1.3420 before the risk of a pullback increases.” We added, “the major resistance at 1.3445 is unlikely to come into view.” GBP then rose to 1.3430, pulled back to 1.3381 before moving back up to close at 1.3409 (+0.14%). While there has been no clear increase in upward

The post Japanese Yen rises as Japan urges pension funds to invest in domestic assets appeared on BitcoinEthereumNews.com. The USD/JPY pair tumbles to around 161.50 during the early European trading hours on Friday. The Japanese Yen (JPY) edges higher against the US Dollar (USD) after the reports that Japan plans to encourage pension funds to increase their holdings of domestic financial assets. Japan’s Finance Minister Satsuki Katayama said that the government is pursuing measures that would include the Government Pension Investment Fund (GPIF) to make “substantially greater investments in Japanese financial assets,” per Reuters. Analysts said this move could offer greater support to ‌the battered currency than intervention. Traders reduce their bets of a rate hike from the US Federal Reserve (Fed) this year, weighing on the Greenback against the JPY. New York Fed President John Williams said on Thursday that despite the resumption of hostilities in the Middle East, he was not looking

The post Pound Sterling Price News and Forecast: GBP gains ground to near 1.3430 early European session appeared on BitcoinEthereumNews.com. The GBP/USD pair trades in positive territory around 1.3430 during the early European trading hours on Friday. The UK government leadership transition and growing expectations of further Bank of England (BoE) interest rate hikes underpin the British Pound (GBP) against the US Dollar (USD). Andy Burnham’s path to becoming the next UK prime minister looks certain after a vast majority of Labour MPs formally nominated him to be the next party leader. Bloomberg reported on Thursday that 322 of 403 Labour members of Parliament voted for Burnham at the end of the first day of the party’s leadership contest to replace Keir Starmer. Burnham is expected to formally become Prime Minister on July 20. Read more… British Pound gains traction above 1.3400 as markets bet on BoE rate hikes The GBP/USD pair gathers strength to around 1.3430 during the Asian tradin

The post GBP/USD Price Forecast: Edges higher above 1.3400, bullish outlook remains intact appeared on BitcoinEthereumNews.com. The GBP/USD pair trades in positive territory around 1.3430 during the early European trading hours on Friday. The UK government leadership transition and growing expectations of further Bank of England (BoE) interest rate hikes underpin the British Pound (GBP) against the US Dollar (USD). Andy Burnham’s path to becoming the next UK prime minister looks certain after a vast majority of Labour MPs formally nominated him to be the next party leader. Bloomberg reported on Thursday that 322 of 403 Labour members of Parliament voted for Burnham at the end of the first day of the party’s leadership contest to replace Keir Starmer. Burnham is expected to formally become Prime Minister on July 20. Traders have ramped up bets on the BoE interest rate hikes amid escalating tensions between the US and Iran. Markets are now fully pricing in a 25 basis points (bps) BoE rat