EUR/USD 1.16366
0.031%
Gold 4398.92
-0.060%
Oil 94.371
0.169%
USD/JPY 153.340
-0.135%
GBP/USD 1.35507
0.035%
GBP/JPY 207.791
-0.083%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 10th, according to The Information, OpenAI has informed some business partners that it will no longer accept advertising for image and audio generation products, as these products compete with OpenAIs own functionality. This change was not previously reported and was not included in its published advertising policy, catching existing advertisers like Adobe, which sells such products, off guard. If this new policy extends to other competing products, it could limit OpenAIs potential advertising revenue. OpenAI had previously given investors aggressive advertising growth expectations, viewing advertising as a key way to generate revenue from its large non-paying user base.On September 10th, Houthi spokesman Yahya warned that Saudi warplanes had launched dozens of airstrikes across Yemen in the past 12 hours, causing widespread damage to residential areas and civilian infrastructure, and that the group would respond sternly. Yahya stated that Saudi warplanes had carried out 54 airstrikes in several Yemeni provinces, and that no matter how the Riyadh regime tries to cover up its brutality, it cannot escape the severe backlash of its aggression; it will face a decisive response to its atrocities.On September 10th, Mehmet Oz, head of the Centers for Medicare & Medicaid Services (CMS), stated that the Trump administration is seeking more drug pricing agreements with pharmaceutical companies. To date, officials have announced more than twenty "voluntary" agreements with pharmaceutical companies, and Oz indicated that "more agreements are in the works." These agreements vary, but companies typically agree to lower the prices they charge public healthcare programs and launch new drugs at prices comparable to those in other developed countries in exchange for tariff reductions.A Reuters poll found that 74% of economists believe Japan’s total budget request for fiscal year 2027 has exacerbated market concerns about fiscal discipline.A Reuters poll showed that 62% of economists expect the Bank of Japan to raise interest rates to at least 1.75% in the second quarter of 2027 (previously the survey expected a final rate of 1.50%).

GBP/JPY Nears Two-Week Low Below 161.00 as Risk-Aversion Pauses During Quiet Session

Alina Haynes

May 10, 2022 10:13

Tuesday's sluggish Tokyo open makes it difficult for GBP/JPY bears to maintain control. As US Treasury yields decline from a multi-month high, the cross-currency pair advances to the fourteenth round.

 

After a spectacular display of risk aversion, global markets are idle on Tuesday morning as US bond yields look for fresh indications to extend the earlier flight to safety. Mixed comments from Fed members and China's determination to continue a "zero covid" policy may have also contributed to the correction.

 

In doing so, the cross-currency pair pays some attention to Brexit-negative headlines as well as the most recent decline in prices to its intraday low, primarily owing to market consolidation. Thus, British Foreign Secretary Liz Truss abandoned Brexit negotiations with the European Union (EU). The Times also reports that the British ambassador is preparing for the elimination of a significant portion of the NI protocol. According to Reuters, "officials working for Truss have drafted legislation that would unilaterally eliminate the need for all checks on products sent from Britain for use in Northern Ireland."

 

Michael Saunders, an external member of the Bank of England's (BOE) Monetary Policy Committee, bolstered rate-hike fears on a different page by saying that a neutral rate may be between 1.25 percent and 2.5 percent. The policymaker said that UK interest rates may need to rise above neutral if inflation expectations rise, which appeared to have supported the GBP/JPY exchange rate recently.

 

US Treasury rates fall seven basis points (bps) to 3.008 percent, after reaching their highest levels since November 2018, while S&P 500 Futures increase 0.10 percent as of press time.

 

Moving forward, a light calendar and Brexit concerns may test GBP/JPY traders. However, the bearish impulse is likely to persist amid a widespread risk aversion wave. In addition, Prime Minister Boris Johnson's address to the House of Commons will be vital to follow.

Analytical Techniques

GBP/JPY bears maintain control unless the pair breaches a downward-sloping trend line from late April around 162.25. Nonetheless, the 50-day simple moving average and a six-week-old ascending support line at 160.00 and 159.85 appear to be significant supports to watch throughout the pair's subsequent drops.

 

image.png 


Suggestion