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Forex News

News source: FXStreet
Apr 23, 15:24 HKT
GBP/JPY turns positive to near 215.40 ahead of flash UK PMI data
  • GBP/JPY recovers early losses and rebounds to near 215.45 as the Japanese Yen underperforms.
  • The BoE is expected to leave interest rates unchanged on April 30.
  • Investors await the preliminary UK S&P Global PMI data for April.

The GBP/JPY pair claws back its early losses and turns marginally positive around 215.45 during the European trading session on Thursday. The pair bounces back as the Japanese Yen (JPY) underperforms its currency peers, except antipodeans, amid caution that the Bank of Japan (BoJ) could delay its plans of tightening the monetary policy further.

Japanese Yen Price Today

The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the weakest against the Canadian Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.02% 0.07% 0.11% -0.01% 0.12% 0.30% 0.03%
EUR -0.02% 0.06% 0.06% -0.03% 0.09% 0.28% -0.02%
GBP -0.07% -0.06% 0.02% -0.09% 0.04% 0.23% -0.08%
JPY -0.11% -0.06% -0.02% -0.13% 0.02% 0.17% -0.09%
CAD 0.00% 0.03% 0.09% 0.13% 0.15% 0.31% 0.02%
AUD -0.12% -0.09% -0.04% -0.02% -0.15% 0.19% -0.13%
NZD -0.30% -0.28% -0.23% -0.17% -0.31% -0.19% -0.31%
CHF -0.03% 0.02% 0.08% 0.09% -0.02% 0.13% 0.31%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).

For meaningful cues on the BoJ’s monetary policy outlook, investors await the upcoming policy announcement on April 28, in which Japan’s central bank is expected to leave interest rates unchanged at 0.75%.

The uncertainty over BoJ’s rate hike plans is prompted by growing economic concerns due to rising oil prices in the wake of the Strait of Hormuz closure.

Meanwhile, the Pound Sterling (GBP) exhibits a mixed performance ahead of the preliminary United Kingdom (UK) S&P Global Purchasing Managers’ Index (PMI) data for April, which will be published at 08:30 GMT. The PMI report is expected to show that the overall private sector activity contracted due to a decline in the service sector activity growth and a slowdown in the manufacturing activity. The UK Composite PMI is seen at 49.8, lower than 50.3 in March.

On the monetary policy front, the Bank of England (BoE) is expected to leave interest rates unchanged at 3.75% in its policy meeting on April 30, as the UK core and service Consumer Price Index (CPI) growth has cooled down. The BoE is unlikely to slash interest rates as inflation expectations are still elevated due to higher energy prices.

Economic Indicator

S&P Global Composite PMI

The Composite Purchasing Managers Index (PMI), released on a monthly basis by S&P Global, is a leading indicator gauging private-business activity in UK for both the manufacturing and services sectors. The data is derived from surveys to senior executives. Each response is weighted according to the size of the company and its contribution to total manufacturing or services output accounted for by the sub-sector to which that company belongs. Survey responses reflect the change, if any, in the current month compared to the previous month and can anticipate changing trends in official data series such as Gross Domestic Product (GDP), industrial production, employment and inflation.The index varies between 0 and 100, with levels of 50.0 signaling no change over the previous month. A reading above 50 indicates that the UK private economy is generally expanding, a bullish sign for the Pound Sterling (GBP). Meanwhile, a reading below 50 signals that activity is generally declining, which is seen as bearish for GBP.

Read more.

Next release: Thu Apr 23, 2026 08:30 (Prel)

Frequency: Monthly

Consensus: 49.8

Previous: 50.3

Source: S&P Global

Apr 23, 15:22 HKT
Oil: Supply risks support prices – ING

ING analysts Warren Patterson and Ewa Manthey say Brent has broken back above $100/bbl as the oil market reprices expectations around the Iran conflict and disruptions in the Persian Gulf. They highlight fading hopes for a US–Iran resolution, growing demand destruction, tight jet fuel markets in Europe and record US exports of oil and refined products.

Brent climbs as disruption persists

"Hopes for a resolution between the US and Iran are fading as peace talks stall. In addition, Iran’s seizure of two vessels attempting to transit the Strait of Hormuz suggests disruptions to shipments are set to continue. The market is having to reprice expectations."

"This saw Brent break convincingly back above $100/bbl. As hopes fade, the reality of the supply disruption will set in, leaving further upside for prices."

"Meanwhile, we continue to see growing demand destruction in the oil market, a trend that will intensify as Persian Gulf supply disruptions persist. Airlines continue to announce flight cancellations amid a tightening in jet fuel supply and significant price strength. Europe’s jet fuel market is heavily exposed to developments in the Middle East."

"Meanwhile, Energy Information Administration data continue to show that the US is exporting record amounts of oil and refined products, as buyers around the globe seek alternative supplies."

"Although the US market has been relatively shielded from Middle East supply disruptions, prolonged instability tightens conditions as global buyers increasingly turn to US supplies."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

Apr 23, 15:20 HKT
US Dollar Index Price Forecast: Remains above 98.50 due to possible bullish reversal
  • US Dollar Index may test the immediate support at the nine-day EMA of 98.51.
  • The 14-day Relative Strength Index at 46.72 sits below 50, signaling subdued momentum.
  • The primary barrier lies at the 50-day EMA at 98.82.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is remaining firm after two days of gains and trading around 98.60 during the early European hours on Thursday. The technical analysis of the daily chart shows that the dollar index is positioned slightly above the descending channel, suggesting a potential for a bullish reversal.

However, the near-term bias stays bearish as the US Dollar Index holds below the 50-day Exponential Moving Average (EMA), though trades only marginally above the short-term EMA, offering a fragile platform. Moreover, the 14-day Relative Strength Index (RSI) at 46.72 sits just below the neutral 50 line, hinting at subdued momentum after the recent pullback rather than a decisive recovery.

The immediate support lies at the nine-day EMA of 98.51, aligned with the upper boundary of the descending channel. A return to the channel would reinforce the bearish bias and put downward pressure on the US Dollar Index to test the lower boundary of the channel around 97.00. Further support appears at the 95.56, the lowest since February 2022, which was reached on January 27.

On the upside, the initial barrier lies at the 50-day EMA of 98.82. A sustained break above the medium-term average would support the DXY to explore the region around the 10-month high of 100.64, which was recorded on March 31.

US Dollar Index: Daily Chart

(The technical analysis of this story was written with the help of an AI tool.)

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.01% 0.07% 0.10% -0.02% 0.12% 0.29% 0.02%
EUR -0.01% 0.07% 0.07% -0.04% 0.09% 0.28% -0.02%
GBP -0.07% -0.07% 0.02% -0.11% 0.04% 0.22% -0.09%
JPY -0.10% -0.07% -0.02% -0.13% 0.02% 0.17% -0.10%
CAD 0.02% 0.04% 0.11% 0.13% 0.16% 0.32% 0.02%
AUD -0.12% -0.09% -0.04% -0.02% -0.16% 0.19% -0.16%
NZD -0.29% -0.28% -0.22% -0.17% -0.32% -0.19% -0.32%
CHF -0.02% 0.02% 0.09% 0.10% -0.02% 0.16% 0.32%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Apr 23, 15:12 HKT
Japanese Yen remains depressed amid Hormuz standoff; USD/JPY eyes 160.00 on firmer USD
  • USD/JPY gains positive traction for the fourth straight day amid a combination of supporting factors.
  • Mideast tensions, inflation fears, and less dovish Fed bets continue to underpin the safe-haven USD.
  • Economic concerns due to energy supply disruptions and delayed BoJ rate hike bets weigh on the JPY.

The USD/JPY pair attracts some buyers for the fourth consecutive day and trades around the 159.65-159.70 area, or a one-and-a-half-week top during the early European session on Thursday. Spot prices, however, remain confined within a familiar range, held over the past month or so as traders seem reluctant to place aggressive directional bets amid a combination of diverging forces.

Despite a temporary extension of the US-Iran ceasefire, the lack of progress in peace talks and the standoff over the Strait of Hormuz continue to weigh on investors' sentiment. Moreover, the risk of a further escalation of tensions remains supportive of elevated Crude Oil prices, fueling inflationary concerns and tempering dovish US Federal Reserve (Fed) expectations. This, in turn, is seen underpinning the US Dollar's (USD) reserve currency status and acting as a tailwind for the USD/JPY pair.

The Japanese Yen (JPY), on the other hand, is weighed down by worries that Japan's economy will come under substantial strains due to continued disruptions to energy supplies from the Middle East. Adding to this, growing acceptance that the Bank of Japan (BoJ) will hold interest rates steady at its upcoming April policy meeting turns out to be another factor undermining the JPY and supporting the USD/JPY pair. The BoJ, however, is still expected to show readiness to raise borrowing costs as soon as June.

Furthermore, speculations that Japanese authorities will step in to stem further weakness in the domestic currency hold back the JPY bears from placing aggressive bets and keep a lid on any further appreciating move for the USD/JPY pair. Hence, it will be prudent to wait for a sustained move beyond the 160.00 psychological mark, also representing the top boundary of a short-term trading range hurdle, before positioning for the resumption of over a two-month-old uptrend from the February swing low.

Japanese Yen Price This week

The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies this week. Japanese Yen was the strongest against the Swiss Franc.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.32% -0.04% 0.54% -0.11% -0.38% -0.45% 0.40%
EUR -0.32% -0.36% 0.24% -0.42% -0.67% -0.80% 0.08%
GBP 0.04% 0.36% 0.60% -0.06% -0.31% -0.44% 0.44%
JPY -0.54% -0.24% -0.60% -0.69% -0.87% -1.02% -0.14%
CAD 0.11% 0.42% 0.06% 0.69% -0.15% -0.34% 0.51%
AUD 0.38% 0.67% 0.31% 0.87% 0.15% -0.07% 0.76%
NZD 0.45% 0.80% 0.44% 1.02% 0.34% 0.07% 0.85%
CHF -0.40% -0.08% -0.44% 0.14% -0.51% -0.76% -0.85%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).

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