British Pound softens against Japanese Yen amid rising uncertainty over UK leadership

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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/

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Industry body says energy consumption driven by AI up 15% globally in two years as it warns of societal backlash Datacentres are consuming 6% of electricity in the UK and US, with the growing strain of AI on energy supplies prompting community resistance, according to research. The proportion of electricity used by vast warehouses stacked with microchips to power AI and the internet has risen 15% worldwide in the past two years as annual global investment in datacentres approaches $1tn (£740bn) – nearly 1% of the global economy, according to the International Data Center Association (IDCA). Continue reading...

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 British Pound Holds Above 1.3500 But Remains Vulnerable Near Two-Week Low appeared on BitcoinEthereumNews.com. British Pound Holds Above 1.3500 But Remains Vulnerable Near Two-Week Low Skip to content Home Forex News British Pound Holds Above 1.3500 but Remains Vulnerable Near Two-Week Low Source: https://bitcoinworld.co.in/british-pound-holds-above-1-3500-two-week-low/

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