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December 21 – According to sources, another oil tanker has been seized by the United States in waters near Venezuela as President Trump intensifies his oil blockade against the government of Venezuelan President Maduro. The seized tanker, the "Bella 1," is a Panamanian-flagged vessel under U.S. sanctions and was en route to Venezuela to load cargo. This interception follows the seizure of the "Century" supertanker early Saturday morning and the seizure of the "Skipper" tanker on December 10. The White House did not immediately respond to a request for comment.On December 21, local time, the Israel Defense Forces (IDF) issued a statement saying that during operations in northern Gaza that day, several suspicious individuals were spotted gathering near the Yellow Line, the ceasefire line. IDF fired warning shots, but three armed men crossed the Yellow Line and approached IDF forces, posing a "direct threat." IDF airstrikes subsequently killed them. The statement also noted that in two other separate incidents in northern Gaza, IDF forces also discovered two armed men crossing the Yellow Line and approaching soldiers. IDF airstrikes subsequently killed them.On December 21, the French presidential palace stated that it would determine the "best way" for French President Macron to hold dialogue with Russian President Putin "in the coming days." The French presidential palace welcomed Russias statement that Putin was willing to engage in dialogue with Macron, and that France believed the aim of such dialogue was to achieve a "stable and lasting peace," and that the content would be "transparent" to Ukraine and Europe.December 21 - According to a report released by the Indonesian Meteorology, Climatology and Geophysics Agency, a 5.6-magnitude earthquake struck off the coast of North Maluku province, Indonesia, at 19:21 local time on December 21. The epicenter was located at 1.47 degrees north latitude and 126.34 degrees east longitude, with a focal depth of 27 kilometers.December 21 - On December 21, MiniMax, a general artificial intelligence company, published its post-hearing information set prospectus for the first time.

GBP/JPY Surpasses 161.00 Due to Firmer Rates, Discussions of UK Tax Cuts, and Concentration on BoE

Daniel Rogers

Jan 30, 2023 15:32

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GBP/JPY demonstrates moderate gains near 161.00 as it reflects the market's cautious disposition at the beginning of a key week that includes multiple monetary policy meetings and important data. Despite this, the cross-currency pair sustains its two-week recovery on the back of rising US Treasury bond yields and hawkish Bank of England forecasts (BoE).

 

Despite a tiny bid at press time, 10-year US Treasury rates remain uninspired about 3.51% after reversing a two-week decline last Friday. Concerns surrounding the Bank of England's 0.50 percentage point interest rate increase to contain inflation appear to keep GBP/JPY purchasers optimistic.

 

Notably, concerns regarding the United Kingdom's opposition to tax cuts appear to help the pair's upward momentum. Reuters quotes British finance minister Jeremy Hunt as saying on Friday that he plans to prioritize corporate tax cuts whenever public finances permit.

 

GBP/JPY sellers, on the other hand, are hopeful due to the Bank of Japan's (BoJ) continuing efforts to defend the Yield Curve Control (YCC) with recently higher inflation data from Tokyo. Japan's foundations may be on par with those of the United Kingdom, despite the former's greater stability.

 

The GBP/JPY exchange rate may experience a short-term rebound in the near future as a result of cautious optimism on the market and reduced fears of UK worker strikes. Nonetheless, the Bank of England's (BoE) rate hike and efforts to limit inflation without harming productivity will draw considerable attention.

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