CoinDesk 2025-03-21 11:12:49

Hotter-Than-Expected Core Inflation in Japan Sparks Rate Hike Talk, Threatens Crypto

Just when it appeared that the yen scare could be easing, Japan has reported an uptick in core inflation. Data released early Friday showed Japan's core inflation, which stripes out prices for fresh food, rose 3% year-on-year in February, moderating from January's 3.2% but beating the consensus forecast for 2.9%. The headline consumer price index eased to 3.7% from 4%. Overall, both indices remained well above the Bank of Japan's 2% inflation target, validating the central bank chief Haruhiko Kuroda's declaration of victory over decades of deflation. Notably, since November, Japan’s headline inflation has been running hotter than that of the U.S.—almost 100 basis points (bps) higher now. The sticky inflation, plus wage hikes from the shunto wage negotiations, have bolstered calls for BOJ rate hikes. In other words, a potential yen rally, known to destabilize risk assets, including cryptocurrencies, is back on the table. As of writing, the dollar-yen (USD/JPY) pair traded at 149.22, having bounced nearly 300 pips in a sign of renewed yen weakness since March 11, according to data source TradingView. That said, the narrowing or declining U.S.-Japan 10-year bond yield spread supports yen strength. Japanese yields have been rising across the curve, offering bullish cues to the yen. As of writing, Japan’s 10-year bond yield held above 1.5%, and the 30-year yield was above 2.5%, both at multi-decade highs. A renewed yen strength could translate into risk aversion, the likes of which we saw in August last year.

La maggior parte ha letto le notizie

Pakistan eyes Bitcoin mining to harness surpl...
2025-03-22
Pakistan eyes surplus power use for crypto mi...
2025-03-22
Senate Republicans are finding it hard to loc...
2025-03-22
Best Cryptos to Buy Now: DexBoss and the Next...
2025-03-22
Bitcoin Futures Show Strong Demand with $52.4...
2025-03-22
German Regulator BaFin Bans Ethena GmbH from...
2025-03-22
Ethereum Price Nears Major Resistance At $2,2...
2025-03-22
Can This Intricate XRP Chart Predict a Massiv...
2025-03-22

Notizie correlate

Bitcoin Price Analysis: BTC Trades Sideways As Mom...
22 Mar 2025
XRP Price Prediction: Ripple’s Final Letter to SEC...
22 Mar 2025
US Government Officially Removes Tornado Cash Sanc...
22 Mar 2025
4 Ripple rivals to consider buying as XRP remains...
22 Mar 2025
XRP, SOL, DOGE Now Accepted by Major Japanese Real...
22 Mar 2025
Presale FOMO? Why Kaanch Network Could Be the Best...
22 Mar 2025

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta