The Egyptian Pound is down 37% against the USD after switching to a flexible exchange rate
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Source: Bloomberg
The Japanese Yen is once again near 160 USD/JPY, the level that triggered massive government interventions in 2024, with trillions of yen spent to defend the currency. Top official Atsushi Mimura warns that “all possible measures” could be taken. Rising oil dependence and record gas prices are straining the economy, making a weak yen more than a market issue it threatens daily life and inflation. History shows that a break above 160 would likely trigger swift intervention. Source: Global Markets Investor, Bloomberg
We briefly bounced at the range lows, but the move has been weak and lacks follow-through. Now sitting well below the 200-day moving average, with the 21-day crossing lower, a bearish shift in trend dynamics. Last time this setup played out, the euro didn’t stabilize, it continued the move lower. Source: The Market Ear, LSEG

