Japanese Yen Recovery Faces Key Resistance Near 158.30, Says UOB

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 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

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 Japanese Yen Faces Intervention Doubts And BoJ Rate Hike Risks, BBH Analysts Warn appeared on BitcoinEthereumNews.com. Japanese Yen Faces Intervention Doubts And BoJ Rate Hike Risks, BBH Analysts Warn Skip to content Home Forex News Japanese Yen Faces Intervention Doubts and BoJ Rate Hike Risks, BBH Analysts Warn Source: https://bitcoinworld.co.in/japanese-yen-intervention-doubts-boj-hike-risk-bbh/

The post Japanese Yen: Intervention doubts and BoJ hike risk – BBH appeared on BitcoinEthereumNews.com. Brown Brothers Harriman (BBH) Elias Haddad notes that USD/JPY has rebounded toward 157.75 after testing 155.00, with 160.00 described as a key line in the sand. Haddad says the Bank of Japan’s (BoJ) April Summary of Opinions did not materially shift rate expectations, though it signals a lower bar to hike. Markets still price about 75% odds of a 25 bps BoJ rate increase to 1.00% next month. Yen pressured as BoJ stays cautious “USD/JPY rebounded to 157.75 after testing a two-month low near 155.00 last week, with 160.00 remaining the major line in the sand on the topside. The Bank of Japan (BOJ) Summary of Opinions from the April 27-28 board meeting did not move the needle on rate hike expectations. The swaps market continues to price-in about 75% odds of a 25bps BOJ rate hike to 1.00% next month.” “The April Summary of Opinions reflected the 6 hold-3 hike votes split while signaling a

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 Japanese Yen: Choppy trade versus US Dollar around intervention line – OCBC appeared on BitcoinEthereumNews.com. OCBC’s FX Christopher Wong describes USD/JPY as a two-way trade after suspected Ministry of Finance (MoF) intervention capped gains near 160. He notes bearish daily momentum but says fundamentals are not decisively Japanese Yen (JPY)-positive, with higher Oil prices still a drag. The pair is expected to stay choppy, driven by Oil swings, with support from 155.40 and resistance up to 158.70. Intervention risk tempers upside bias “USD/JPY traded near recent lows last week. Price action remains a two-way trade after recent suspected MoF intervention helped cap upside near the 160-handle.” “While intervention risk may keep JPY shorts more cautious, the fundamental backdrop is not yet decisively JPY-positive. Higher oil prices remain a terms-of-trade drag on JPY. “ “Near term, USD/JPY may stay choppy, driven by swings in oil prices. Pair was last at 156.70 levels. Bearis