USD/JPY has slipped back below 157.00, while GBP/JPY is touching the 200 level again, as the US dollar and Sterling take different paths
Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.31% 🇪🇺EUR: 0.14...weakness. The April services PPI reading accelerated by 2.8% y/y, beating expectations of 2.3% and an upwardly revised 2.4% in March. Today’s reading showed the sharpest rate of increase since March 2015.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests USD/JPY prices may continue to rise. This hawkish push-back has propped up Sterling and helped push USD/JPY back to the 200 level and within touching distance of levels last seen in August 2008. A confirmed break higher could seelooks similar to the GBP/JPY chart although the macro picture is different. The ECB is fully expected to cut interest rates by 25 basis points at next week’s central bank meeting and this may temper further upside in the pair.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japanese Yen Sentiment Analysis & Market Outlook: USD/JPY, EUR/JPY, GBP/JPYIn this article, we conduct a thorough analysis of retail sentiment on the Japanese yen across three popular currency pairs: USD/JPY, EUR/JPY and GBP/JPY. In addition, we examine various scenarios shaped by contrarian market signals
Read more »
Japanese Yen Sentiment Analysis & Outlook – USD/JPY, EUR/JPY, GBP/JPYThis article explores retail sentiment on the Japanese yen through an analysis of USD/JPY, EUR/JPY, and GBP/JPY. Moreover, we consider potential near-term scenarios based on market positioning and contrarian signals.
Read more »
USD/JPY Strength Highlights Japanese Yen’s Vulnerability to US Dollar ResurgenceUSD/JPY has moved above 155.00 on the back of a stronger US dollar, leaving the pair vulnerable to another round of official intervention
Read more »
Japanese Yen Rises On Inflation-Focused Dollar Despite Feeble Japanese GDP PrintUSD/JPY remains under pressure from this week’s US inflation figures despite worrying weakness in Japanese growth
Read more »
GBP/JPY sticks close to 197.00 as Yen weakens furtherAfter recovering from a mid-week pullback, GBP/JPY scrambled back towards the 197.00 handle on Thursday.
Read more »
USD/JPY back above 155.00 amidst broad-market Yen weaknessUSD/JPY recovered ground on Thursday, climbing back over the 155.00 handle after dipping to 153.60 on Wednesday.
Read more »