The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
GBP/JPY reached levels not seen since July 2008, trading around the mid-215.00s. Geopolitical risks surrounding the Strait of Hormuz are heavily impacting the Japanese Yen. Japan is moving closer to actual intervention to support the yen, with Finance Minister Katayama expressing a high sense of urgency in monitoring the FX market. Additionally, Japan may release another 20 days' worth of oil reserves to alleviate pressure on the currency.