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Euro Gains Against Pound After Mixed UK Inflation, ECB Decision Looms
EUR/GBP edged higher on Wednesday as a mixed UK inflation report weighed modestly on the British Pound, with the cross trading around 0.8533.
Gold extends rally as Middle East concerns intensify
Gold (XAU/USD) extended its weekly rally toward the $4,160 region on Wednesday, supported by escalating Middle East tensions.
Sterling Holds Ground as UK Inflation Cools, Oil Jumps on Iran Tensions
The British pound remained steady in North American trading after UK inflation data came in softer, reducing pressure on the Bank of England, while escalating US-Iran hostilities pushed oil prices higher.
Colombian Peso Hits Multi-Year Highs on Carry Trade Appeal
The Colombian peso has been outperforming expectations since late 2024, reaching multi-year highs against the US dollar, driven by carry trade dynamics despite political changes.
USD/CAD Edges Lower as Softer USD and Rising Oil Prices Support Canadian Dollar
USD/CAD fell on Wednesday as a mildly softer US Dollar and higher crude prices helped the Canadian Dollar snap a two-day losing streak. The pair traded around 1.4085, down 0.16% on the day.
Standard Chartered: China Politburo to Focus on Fiscal Execution, Not New Stimulus
Standard Chartered economists expect China's July Politburo meeting to prioritize implementation of existing fiscal plans rather than new stimulus, with fiscal execution likely accelerating in the second half of the year.
AUD/USD Steadies Near 0.7000 Ahead of Australian Employment Data
AUD/USD trades near 0.7000 on Wednesday, recovering from an intraday pullback to 0.6985. The US Dollar Index slips toward 101.10, lending support to the Aussie as markets await Australian employment data.
Japanese Yen Struggles Near Four-Decade Lows Despite Hawkish BoJ Signals
The Japanese Yen is unable to sustain gains on Wednesday, giving back earlier advances even after hawkish comments from the Bank of Japan and a softer US Dollar, as ongoing Middle East tensions cap risk appetite.
USD/JPY Breaks 163 for First Time Since 1986; Japan Warns of Intervention
The dollar-yen pair surged past 163, a level not seen since July 1986. Japanese officials responded with fresh intervention warnings, with FinMin Katayama vowing decisive action if needed and Chief Cabinet Secretary Kihara pledging an appropriate response.
Rabobank: BOJ Gradual Tightening Reflects External Shocks
Rabobank's FX strategy team says the Bank of Japan's slow rate-hike pace is due to exceptional shocks including tariffs, war, and domestic political uncertainty.
EUR/USD Recovery Limited as Safe-Haven Dollar Gets Support From Middle East Tensions
EUR/USD holds near 1.1415, up 0.15% on Wednesday, but gains are capped as geopolitical risks in the Middle East boost demand for the safe-haven US dollar, preventing a sustained breakout.
BoJ Hints at Faster Rate Hikes as Yen Weakness Boosts Inflation
Bank of Japan officials are reportedly open to raising rates faster than economists anticipated, citing yen-driven inflation pressures, according to BNY's Geoff Yu.
Trump Threatens to Bomb Iranian Infrastructure Over Strait Threats
US President Donald Trump warned on Wednesday that the US would bomb and destroy Iranian bridges or power plants if Tehran attacks vessels in the Strait of Hormuz.
UK Core CPI Resilience Complicates BoE Path – Nomura
Nomura strategists note that UK headline CPI fell to 2.6% as expected, but core and services inflation remain elevated, complicating the Bank of England's policy path.
Hungarian Forint: NBH Cuts to 5.75%, Signals More Easing
The National Bank of Hungary cut its base rate to 5.75% and maintained a dovish stance, indicating further easing in August and beyond. ING analysts expect the bank to keep a loose policy trajectory.
US Dollar Index Holds Bullish Bias Above 101.00
The US Dollar Index (DXY) remains tilted to the upside as long as it stays above 101.00, despite a moderate pullback on Wednesday that retraced most of its Asian-session losses.
Gold Climbs to Two-Week High on Middle East Risks, Fed Outlook
Gold (XAU/USD) rose to a two-week high on Wednesday, supported by bargain buying near the $4,000 level and ongoing concerns over Middle East tensions and Federal Reserve policy.
Rabobank: BoJ Hawkish Signals vs Fed Risk Impact USD/JPY
Rabobank's Jane Foley notes that intervention by Japan's MoF alone is unlikely to shift USD/JPY direction without stronger Japanese fundamentals, as hawkish BoJ signals compete with Fed risk.
USD Little Changed as Oil Jumps Amid China Auto Commentary
The US dollar remained little changed as oil prices rose, while commentary focuses on China's growing dominance in auto manufacturing and potential shocks from the US.
GBP Remains Heavy After Mixed UK CPI Data – BBH
Brown Brothers Harriman notes the British Pound is heavy versus USD and EUR after a mixed UK June CPI report, with headline inflation cooling but core and services measures staying elevated.
EUR/JPY holds near five-week high despite hawkish BoJ comments
The Euro reversed earlier gains against the Yen but remains just below 186.00, close to the five-week high of 186.19, after hawkish remarks from Bank of Japan policymakers.
Fed Preview: Divided Hold Expected After Warsh Debut, Mixed Inflation Signals
The Federal Reserve is expected to hold rates steady at the upcoming meeting, but with a divided committee. Kevin Warsh's first FOMC meeting comes amid mixed inflation data and rising energy prices due to renewed Iran tensions.
Gold Price: 3 Scenarios for H2 2026 After Volatile First Half
Gold (XAU/USD) surged over 20% in early 2026 before losing nearly 30% through the end of Q2. Analysts outline three possible paths for the rest of the year.
US Secretary of State Rubio Says Iran 'In a Lot of Trouble'
US Secretary of State Marco Rubio stated that Iran is 'in a lot of trouble' after meeting with Chinese Foreign Minister Wang Yi in Manila.