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July 23, Christopher Wong, foreign exchange strategist at OCBC Bank in Singapore: The US-Japan trade agreement has triggered some knee-jerk reactions, but these fluctuations have basically stabilized as USD/JPY trades near 10 or 11-day lows. With the elimination of uncertainty about Japanese tariffs, we are closely watching the two major risks facing USD/JPY in the future - the political risk of Shigeru Ishiba staying in office, and whether the credit rating, which depends on Japans fiscal situation, will change.July 23, Charu Chanana, chief investment strategist at Saxo Bank in Singapore: Expectations for a breakthrough in the negotiations were low, so Trumps statement brought a mild upside surprise - providing short-term relief for Japanese stocks. The reduction in tariffs from the previous 25% to 15% is meaningful and should boost sentiment in export-driven industries, even if the details, especially in automobiles, remain crucial. The market will largely view the $550 billion foreign direct investment news as a political theater rather than a tradable catalyst. Strategically, the agreement allows Japan to avoid an immediate escalation in tariffs while Trumps attention is diverted elsewhere.Japanese Prime Minister Shigeru Ishiba: The Japan-US trade agreement is expected to contribute to the global economy.July 23, local time on July 22, US President Trump announced through social media that the United States and Japan have reached a trade agreement: the tariff rate on Japan is 15% and Japans investment in the United States is 550 billion US dollars. On the 23rd, Japanese Prime Minister Shigeru Ishiba told the media at the Prime Ministers Office that he would listen to the detailed report of the Minister of Economic Revitalization Akasawa Ryomasa, and if necessary, he would have a telephone or face-to-face meeting with US President Trump. After Trump announced the progress of the Japan-US tariff negotiations, a Japanese government official revealed that Japan welcomed it as Trump said on social media. This is the result of the tenacious negotiations of the Minister of Economic Revitalization Akasawa Ryomasa.The yield on two-year Japanese government bonds rose 5 basis points to 0.8%.

Bitcoin falls below $19,000 as cryptos creak under rate hike risk

Skylar Shaw

Sep 20, 2022 14:27

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On Monday, cryptocurrency prices hit new lows as a result of regulatory worries and a general investor reluctance to engage in risky assets due to impending interest rate increases.


By market value, Bitcoin, the most valuable cryptocurrency, dropped almost 5% to a three-month low of $18,387.


The second-largest cryptocurrency, ethereum, lost 3% to a two-month low of $1,285 and had lost more than 10% in the previous day. The majority of the smaller tokens had larger losses.


Over the weekend, a significant update to the Ethereum blockchain—which supports the ether token—called the Merge changed how transactions are handled and reduced energy consumption.


The value of the token has decreased amid rumors that comments made last week by Gary Gensler, chairman of the U.S. Securities and Exchange Commission, suggested the new structure would draw further regulation. The upgrades' surrounding trades were likewise unwound.


The regulatory outlook is guesswork, according to Matthew Dibb, COO of Singapore's Stack Funds cryptocurrency platform.


Since the Merge, the markets have shed a lot of their excitement, he said. Given the uneasy global background, he said, "It's truly been a sell-the-news sort of event," and predicted that ether will test $950 in the near future.


"From a basic and technological standpoint, the current situation does not appear promising. There isn't a clear quick positive trigger that will support these markets and inject a ton of fresh cash and liquidity, in our opinion.

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