USD/JPY crashes by 3% 💥
USD/JPY crashed by more than 3% to 147.1 after peaking at 152 in just a few hours. USD/JPY grew by 32% in 2022, but this huge trend is now endangered as BoJ wants to strengthen the yen.
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The Japanese Yen has been strengthening against all other currencies on Friday. EUR/JPY fell the hardest, by 1.82%. Other currency pairs, like NZD/JPY and GBP/JPY, are also down 1.5% so far.
EUR/USD rose above 1.0900 after the Fed raised interest rates, the highest since early February. Another Fed’s rate hike of 25bps was delivered, but the US dollar weakened all around the place.
Russia to internationalize Chinese Yuan
Putin advocated for the internationalization of the Chinese yuan, saying that around two-thirds of trade between Russia and China is conducted in yuan and ruble. The president said his country supports the use of the yuan in trade between Russia and countries in Asia, Africa, and Latin America.
The euro strengthened against all fiat currencies, supporting the ongoing trends. EUR/AUD jumped 1.5%, while EUR/JPY and EUR/GBP are up 1.2%.
The Japanese yen continues to appreciate against all currency pairs. NZD/JPY is down 1.33%, and CAD/JPY along with USD/JPY fell 1%.
JPY appreciates against all currencies
The Japanese yen drastically strengthened after the members of the Bank of Japan signaled the need to keep an ultra-easy policy. EUR/JPY is down 3%, and other currency pairs like AUD/JPY, NZDJPY, GBP/JPY along with CAD/JPY are 1.8% lower.
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The EU stock market in red due to banks
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Bitcoin reportedly entered a supercycle
Bitcoin appears to be entering a new bullish “supercycle,” according to Bloomberg senior analyst Mike McGlone. He claims Bitcoin is the best-performing asset in 2023, increasing its price “nearly 10 times” as much as gold.
The Japanese Yen has been strengthening against all other currencies on Friday. EUR/JPY fell the hardest, by 1.82%. Other currency pairs, like NZD/JPY and GBP/JPY, are also down 1.5% so far.
Hermes stock at new all-time high
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