Stocks showed a mixed performance in Asia on Tuesday following the announcement by China’s premier that the country’s economic growth target for this year is approximately 5%, aligning with forecasts. The benchmark index in Hong Kong declined, whereas Shanghai saw a slight increase. During the opening session of China’s National People’s Congress, Li Qiang announced […]
Japan is set to overhaul its tax regulations for corporations holding third-party cryptocurrencies, a development reported by local media. The newly approved tax regime, greenlit by the cabinet on Friday, aims to incentivize long-term investments in crypto assets and provide a supportive environment for the growth of Web3 businesses. Under the existing system, corporations face […]
Binance Japan has announced the list of 34 cryptocurrencies that will be available for trading when it launches in August. The platform, which was created after Binance acquired Sakura Exchange BitCoin last November, aims to comply with local regulations and offer a safe and secure environment for crypto enthusiasts in Japan. According to Coinpost, Binance […]
The Japanese yen is standing its ground near six-month lows against the mighty United States dollar, showing resilience in the face of mounting concerns surrounding the US debt ceiling negotiations. With Treasury Secretary Janet Yellen sounding the alarm that Washington’s cash reserves might dry up by June 1 if Congress doesn’t get its act together, […]
The Japanese yen has experienced a volatile first quarter of 2023, swinging from weakness to strength and back again against the US dollar. What factors have driven these fluctuations, and what can we expect for the rest of the year? One of the main drivers of the yen’s movements has been the divergence in monetary […]
The USD/JPY exchange rate has been on a rollercoaster ride since early 2021, with bulls taking the lead in recent weeks. The pair hit a high of 150.00 last year, the best level since 1990, before undergoing a massive downward correction that brought it below 130.00 in mid-January 2023. However, the U.S. dollar has since […]
Despite the US dollar index (DXY) hitting a seven-month low on Monday, the Japanese yen (JPY) hasn’t altered much against the dollar so far this week. The currency market has been rather quiet in the Tuesday trading session. After reaching a 40-year high of 4.0% year-on-year at the end of December last year, the headline […]
In an unexpected decision on Tuesday, the Bank of Japan allowed long-term interest rates to climb more, shocking the Japanese yen (JPY) and financial markets and attempting to offset some of the costs of sustained monetary stimulus. following the announcement, the USD/JPY pair slumped to the 130.99 mark, 4.2% lower on the day. This was […]
The Bank of Japan kept its ultra-low interest rates and dovish posture on Friday, which caused the Japanese yen to tremble. Meanwhile, the dollar battled to cling to its gains from the previous day as the anticipation of a change in outlook by the Federal Reserve grew. In the wake of the central bank’s decision, […]
