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USD/CNH confined to narrow range, downside risk persists – UOB
United Overseas Bank (UOB) analyst Quek Ser Leang notes that USD/CNH remains range-bound, with near-term expectations for the Dollar to trade between 6.7940 and 6.8080, while downside risk stays intact.
US Dollar Neutral Near 101.20 as Fed Rate Hike Bets Persist
The US Dollar Index traded neutrally around 101.20 on Tuesday as investors weighed mixed US data and ongoing hawkish Fed expectations.
Gold rises above $4,000, heads for 11% monthly loss
Gold (XAU/USD) edged up 0.35% on Tuesday, trading above $4,000, but remains on track for a monthly decline of over 11% after falling from highs near $4,500.
USD/CHF Holds Support Near 0.8070, Bulls Target YTD High
The USD/CHF pair remains steady around 0.8070 after a slight decline on Monday, with bullish momentum building toward the year-to-date high.
NZD/USD Recovery Faces Resistance at 0.5700
The New Zealand Dollar edges higher against the US Dollar on Tuesday, supported by upbeat New Zealand business confidence data and a modest pullback in the Greenback. NZD/USD trades around 0.5677, up 0.5%.
AUD Holds 200-Day SMA Support But Lacks Upward Catalyst
The Australian Dollar bounced off its 200-day SMA but remains without a sustainable catalyst to reverse recent weakness.
AUD/USD Rises After Hawkish RBA Minutes, Firmer US Confidence Data
AUD/USD traded higher near 0.6915 as the Reserve Bank of Australia's hawkish meeting minutes and improved US consumer confidence supported the pair.
Yen Extends Decline as US-Japan Rate Gap Supports Dollar
USD/JPY traded around 162.65, up 0.44% on the day, remaining near its highest level in several years as the interest rate differential between the US and Japan continues to weigh on the yen.
Euro Trims Losses Against US Dollar as Fed Rate-Hike Bets Curb Gains
The Euro recovered some ground against the US Dollar on Tuesday, supported by month-end repositioning, but gains remain limited by expectations of further Federal Reserve rate hikes.
British Pound Holds Firm as Political Stability Offsets UK Growth Miss
The British Pound advanced 0.11% on Tuesday despite weaker UK economic data, while US job vacancies rose in May according to the Bureau of Labor Statistics.
Silver Edges Higher to $59.70 as USD Trims Gains
Silver (XAG/USD) rose nearly 2.5% to around $59.70 on Tuesday as the US Dollar gave back some gains despite upbeat US economic data.
Fed's Hammack Says Inflation Still Too High, Rate Hikes Possible
Cleveland Fed President Beth Hammack stated that inflation remains too high and the central bank may need to consider raising interest rates.
ECB Hawkish Bias to Persist with One More Rate Hike, ING Says
ING analysts argue that the ECB's hawkish stance will continue with at least one additional rate hike, citing reduced sensitivity to oil prices and ongoing uncertainty.
EUR/USD Resistance at 1.1450 Caps Upside Amid Softening Euro – Scotiabank
Scotiabank reports that EUR/USD is softer, with resistance at 1.1450 capping upside. Regional inflation data suggests downside risks for national CPI, while ECB President Lagarde signals that more tightening could come.
Nordea: Norwegian Krone Supported Against Euro as NOK Flows Increase
Nordea strategist Sara Midtgaard notes that the Norwegian Krone weakened in June with EUR/NOK peaking near 11.35, but now sees limited further weakness amid increased NOK flows.
Canadian Dollar Rises After GDP Growth Beats Forecasts
The Canadian Dollar strengthened after Canada's GDP data surprised to the upside, pushing USD/CAD lower.
USD/JPY Breaks Above 162, Intervention Risks Rise – ING
ING analyst Chris Turner notes that USD/JPY has surpassed its 2024 highs near 162, reaching levels last seen in the 1980s, with traders now focusing on potential Bank of Japan intervention.
US Dollar Has Modest Upside as Risks Recalibrate – OCBC
The US Dollar edged lower on improved risk appetite, but OCBC's Sim Moh Siong sees modest upside potential as geopolitical risks recalibrate.
Yen Volatility: Japanese Officials Step Up Verbal Intervention
Japanese cabinet secretaries attempted verbal intervention overnight amid speculation the Ministry of Finance may be preparing actual market action to support the yen.
Rabobank Sees No BoE Rate Change in 2024 on Soft CPI, Oil, Labour
Rabobank's Senior FX Strategist Jane Foley expects no change in Bank of England policy in 2024, citing softer UK CPI, lower oil prices, and a slack labor market.
USD/INR Range Trade Persists: Societe Generale
Societe Generale strategists note that USD/INR is trading in a tight range, with robust foreign portfolio inflows into Indian debt and supportive domestic factors offset by a hawkish Federal Reserve.
GBP/JPY Trades Sideways on Intervention Warnings
GBP/JPY struggles to gain traction as traders remain cautious about potential Japanese intervention after the yen hit a 40-year low against the dollar.
NBC: US Growth Above 2% in 2026, But Sticky Inflation and Fed Skepticism
Analysts from National Bank of Canada note US GDP growth remains healthy above 2% in 2026, but inflation is seen as less benign and Fed skepticism persists.
Yen Hits 40-Year Low, Weighs on Other Majors
The Japanese yen fell to its weakest level in four decades, dragging most major currencies lower against the dollar amid month-end and quarter-end flows.