The post ChatGPT-4o predicts Japanese Yen (JPY) price as US adds Japan to watchlist appeared on BitcoinEthereumNews.com.

The US Treasury Department has added Japan to its foreign exchange (forex) “monitoring list” due to the country’s large trade surplus and recent interventions to support the yen, while the USD/JPY exchange rate surges past 159.00, approaching levels that could trigger further action from the Bank of Japan. In this context, Finbold turned to ChatGPT-4o, OpenAI‘s most advanced artificial intelligence (AI) model, for insights on finance and the Japanese Yen. Overall, the chatbot forecasts USD/JPY to test the 160.0 resistance before facing a potential intervention by Japan. For the short term, ChatGPT-4o believes the pair’s exchange rate can go as low as 158.0, testing support. Breaking from this level could set a new price target at 157, while the opposite is unlikely, given the Bank of Japan’s historical influence on the forex market. ChatGPT-4o price prediction for the US dollar (USD) against the Japanese Yen (JPY). Source: NanoGPT US Treasury adds Japan to monitoring list, cites large trade Surplus According to a Reuters report, the US Treasury Department has added Japan to its “monitoring list” for foreign exchange practices. However, the Treasury stopped short of labeling Japan or any other trade partner a currency manipulator, as Bloomberg stated. The decision came after Japan intervened to support the yen earlier this year. Moreover, the Treasury highlighted Tokyo’s large bilateral trade and current account surpluses as key factors in its decision. The Treasury’s semi-annual currency report found that none of the countries examined met all three criteria, triggering “enhanced analysis” of their foreign exchange practices during the four quarters through December 2023. Countries are automatically added to the list if they meet two of the three criteria: a trade surplus with the U.S. of at least $15 billion, a global account surplus above 3% of GDP, and persistent one-way net foreign exchange…

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Filed under: News - @ June 22, 2024 1:24 pm