USD/JPY hits 8-month high near 154.50 – BBH

FXStreet Insights Team FXStreet

USD/JPY touched an eight-month high near 154.50 before easing lower, as Finance Minister Katayama warned on rapid yen moves, though the BOJ’s dovish stance limits meaningful support, BBH FX analysts report.

Japan finance minister flags rapid Yen moves

"USD/JPY hit an 8-month high near 154.50 before drifting lower towards 153.30 after Japan Finance Minister Satsuki Katayama warned against excessive yen moves. Katayama said 'I’m seeing one-sided and rapid moves in the currency market…There’s no change in our stance of assessing developments with a high sense of urgency'."

"Katayama’s warning on yen volatility rings hollow. A more hawkish Bank of Japan (BOJ) last week would’ve done more to support JPY. Instead, the BOJ’s laid-back policy stance means any intervention will only slow, not stop the yen’s slide. The BOJ would be throwing good money after bad."

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

EUR/USD hovers around 1.1850 ahead of FOMC Minutes

EUR/USD stays on the back foot around 1.1850 in the European session on Wednesday, pressured by renewed US Dollar demand. Traders now look forward to the Minutes of the Fed's January monetary policy meeting for fresh signals on future rate cuts.

GBP/USD defends 1.3550 after UK inflation data

GBP/USD is holding above 1.3550 in Wednesday's European morning, little changed following the UK Consumer Price Index (CPI) data release. The UK inflation eased as expected in January, reaffirming bets for a March BoE interest rate cut, especially after Tuesday's weak employment report.

Gold: Is the $5,000 level back in sight?

Gold snaps a two-day downtrend, as recovery gathers traction toward $5,000 on Wednesday. The US Dollar recovers from the overnight sell-off as rebalancing trades resume ahead of Fed Minutes. The 38.2% Fib support holds on the daily chart for now. What does that mean for Gold?

Pi Network rally defies market pressure ahead of its first anniversary

Pi Network is trading above $0.1900 at press time on Wednesday, extending the weekly gains by nearly 8% so far. The steady recovery is supported by a short-term pause in mainnet migration, which reduces pressure on the PI token supply for Centralized Exchanges. The technical outlook focuses on the $0.1919 resistance as bullish momentum increases.

UK jobs market weakens, bolstering rate cut hopes

In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.

Top 3 Price Prediction: Bitcoin, Ethereum, and Ripple face downside risk as bears regain control

Bitcoin, Ethereum, and Ripple remain under pressure on Wednesday, with the broader trend still sideways. BTC is edging below $68,000, nearing the lower consolidating boundary, while ETH and XRP also declined slightly, approaching their key supports.