Market Performance Highlights (2025)
In the first half of 2025, the USD/JPY currency pair recorded a 9% decline, marking its strongest performance in recent years.
Key Economic Developments
U.S. Jobs Data & Fed Policy:
- The robust June non-farm payroll report underscored the resilience of the U.S. economy amid tariff pressures, significantly dampening expectations of a July Fed rate cut.
- The House of Representatives passed the revised Big and Beautiful Act, expected to be signed into law before the July 4 deadline.
Market Reactions:
The 10-year Treasury yield climbed to 4.35%, while major U.S. indices rallied:
- Dow Jones: +0.77%
- S&P 500: +0.83% (6,279 points)
- Nasdaq: +1.02% (20,601 points), both hitting record highs.
- China’s Golden Dragon Index rebounded by 0.4%.
Currency and Crypto Movements
- GBP/JPY: Rose on stronger-than-expected U.S. jobs data, boosting risk sentiment and pressuring safe-haven currencies.
Bitcoin (BTC):
- Surpassed $110,000, fueling bearish sentiment but potentially catalyzing further gains.
- Briefly touched $110,529** before retracing to **$109,483.
- Nears its all-time high of $120,000, with investors closely monitoring price action.
FAQs
Q1: What factors drove the USD/JPY decline?
A: A combination of U.S. economic resilience and shifting Fed policy expectations contributed to the pair’s 9% drop.
Q2: Why did Bitcoin’s rally trigger bearish sentiment?
A: Rapid price surges often lead to profit-taking and skepticism, though they can also attract new bullish momentum.
Q3: How might the Big and Beautiful Act impact markets?
A: The legislation could stabilize sectors affected by tariffs, fostering investor confidence in U.S. equities.
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