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GBP/JPY Price Forecast: Breaks below 213.00 eyes on 212.00
GBP/JPY retreats over 0.55% on Wednesday as the Japanese Yen strengthened in the aftermath of last week’s intervention in the FX markets by Japanese authorities. At the time of writing, the cross-pair trades at 212.60 after reaching a daily peak of 214.23.
Fxstreet
Wed, May 6
USD/JPY falls on suspected intervention, US-Iran deal hopes weigh on USD
USD/JPY stages a modest rebound on Wednesday after coming under pressure earlier in the day amid another suspected intervention by Japanese authorities. At the time of writing, the pair is trading around 156.42 after recovering from an intraday low near 155.00.
Fxstreet
Wed, May 6
GBP/USD surges as US-Iran deal hopes hammer USD
GBP/USD rises by over 0.59% on Wednesday after an Axios report revealed that the US and Iran are closing in on a deal to end the war. The Greenback fell on the news, even though US jobs data crushed estimates, which could prompt the Federal Reserve to focus on inflation.Fxstreet
Wed, May 6
EUR/JPY declines as stronger Yen on intervention risks offsets ECB tightening expectations
EUR/JPY trades around 183.50 on Wednesday at the time of writing, down 0.61% on the day, as the Japanese Yen (JPY) benefits from stronger demand amid fears of intervention by Japanese authorities in the foreign exchange market.
Fxstreet
Wed, May 6
USD/CAD: Technical downtrend favors Canadian Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret highlights that USD/CAD is little changed as lower Oil offsets improved risk appetite, with the Canadian Dollar (CAD) having seen limited benefit from prior crude gains.
Fxstreet
Wed, May 6
USD/CAD holds steady as US-Iran deal hopes pressure USD and drag Oil prices lower
USD/CAD struggles for direction on Wednesday as renewed optimism surrounding a potential US-Iran peace deal pressures the US Dollar (USD), while falling Oil prices weigh on the commodity-linked Canadian Dollar (CAD).Fxstreet
Wed, May 6
NZD/USD: Market pricing aggressive RBNZ tightening path – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad reports NZD/USD has rebounded toward 0.6000 on broad US Dollar (USD) weakness, nearly erasing war-related losses. New Zealand’s Q1 labour data were mixed, with softer employment but firm wage growth.
Fxstreet
Wed, May 6
USD/JPY: Intervention fears drive sharp gains – BNY
BNY’s Bob Savage highlights a sharp Japanese Yen (JPY) rally, with USD/JPY dropping as low as 155.04 before partially reversing, in a move widely seen as fresh official intervention. Authorities are viewed as defending the 160 level to curb speculative shorts.Fxstreet
Wed, May 6
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