Gold rejected, yields climb and USD/JPY eyes 164.00 [Video]
![Gold rejected, yields climb and USD/JPY eyes 164.00 [Video]](https://editorial.fxsstatic.com/images/i/discover-58.jpg)
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Kim Cramer Larsson
KCL Consult
Kim Cramer Larsson hosts the Daily Technical Update, a daily 15-20 minutes video with live charts.
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The GBP/USD pair builds on Wednesday's gains and trades in positive territory above 1.3400 during the early European trading hours on Thursday. Fading political uncertainty following the resignation of Keir Starmer in late June provides some support to the British Pound against the US Dollar. However, the risk-averse market atmosphere could limit the pair's upside.
EUR/USD gains traction in the European session on Thursday and advances toward 1.1450. Despite the escalating tensions in the Middle East, the US Dollar (USD) struggles to find demand and allows the pair to stretch higher. Weekly Jobless Claims data will be featured in the US economic calendar.
Gold manages to stage a rebound and clings to modest daily gains near $4,100 following a three-day slide. With Middle East hostilities reviving fears of high global inflation, which could cause major central banks to refrain from easing monetary conditions, XAU/USD finds it difficult to gather momentum.
Hyperliquid continues to slide for the fourth consecutive day this week as retail demand eases amid broader market risk-off sentiment. A surge in HIP-3 Open Interest reflects steady demand for tokenized Real World Assets, amid institutional inflows that support the broader upward trend.
Japan may be changing its intervention playbook, but that might not be enough to rescue the battered Yen. With USD/JPY hovering at four-decade highs, the currency’s weakness is being driven less by speculative pressure and more by a powerful structural force: the wide US-Japan rate gap.
Central banks have spent years telling markets what might come next. Now, traders face the possibility that they say a lot less. From the Federal Reserve to the European Central Bank and the Bank of England, policymakers are pushing back against forward guidance.
