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BBH Expects DXY to Retreat into 96–100 Range
Elias Haddad of Brown Brothers Harriman says the US Dollar Index rally has ended and sees it falling back to the 96.00–100.00 area.
AUD/USD Steady Near 0.7030 Despite Weak Chinese Data, Reduced Rate Hike Bets
AUD/USD traded around 0.7030 on Friday, little changed as weak Chinese economic data and diminishing expectations for RBA rate hikes were absorbed by the currency.
KOSPI Jumps 18%, Yen Plunges After FX Intervention, Apple Down, Amazon Up
KOSPI closes 18% higher; yen drops five big figures following FX intervention; Apple and Amazon shares diverge.
US Dollar Rally Faces Headwinds as DXY Struggles Above 100
The US Dollar Index is attempting to hold above the 100.00 level on Friday after a sharp selloff, as concerns mount over the Federal Reserve's policy outlook.
Dollar selloff extends as DXY dips below 100.0, ING flags positioning unwind
The US dollar’s post-Fed decline accelerated with DXY briefly dipping below 100.0, back to levels seen after Kevin Warsh’s June press conference. ING’s Francesco Pesole points to stretched long USD positioning as a driver.
Euro Rebounds vs Yen After Suspected BOJ Intervention Spikes Volatility
EUR/JPY stabilizes around 184.00 on Friday after a suspected Bank of Japan intervention sent the pair plunging nearly 500 pips from 187.00 to near 182.00 on Thursday.
TD Securities: Yen May Trade in Wide Range After Muted BoJ Decision
TD Securities analyst Alex Loo says the Japanese yen is likely to trade in a wide range as the Bank of Japan held rates steady and Governor Ueda’s hawkish tone failed to spark a strong reaction.
USD/JPY Recovers to 160.60 After Suspected BOJ Intervention
USD/JPY rebounded to 160.60 on Friday following a sharp drop. Markets suspect the Bank of Japan stepped in to support the yen, though no official confirmation was provided.
Euro Drops to Session Lows vs Pound After Eurozone CPI Data
The euro fell to 0.8554 against the British pound on Friday as markets reacted to the latest eurozone inflation figures.
British Pound Underperforms as BoE Rate Hike Doubts Mount
The British pound declined against major peers, with GBP/USD drifting to around 1.3444, as traders reassessed the likelihood of aggressive Bank of England rate hikes.
Silver Falls 1.59% to $58.08 on Friday, FXStreet Data Shows
Silver prices declined to $58.08 per troy ounce on Friday, down 1.59% from the previous $59.02, according to FXStreet data.
IG Group Might Pay Over $2 Billion for Its Prediction Markets Deal, and It's Only a “Funnel”
IG Group agreed to pay $1.3B for prediction-markets platform Underdog, with up to $850M more in employee earnouts, as it targets a bigger US footprint and a 'customer funnel' for growth.
BoE Policy Offers Limited Support for British Pound, Says Commerzbank
Commerzbank analyst Michael Pfister notes the Bank of England’s rate hold and lack of hawkish guidance, suggesting limited upside for the British pound.
British Pound Struggles to Extend Recovery Against Japanese Yen
The British Pound faces resistance above 216.33 against the Japanese Yen during European trading, struggling to extend its recovery.
USD/CAD Steadies Above June Low, Bears Eye 1.4000 Breakdown
The pair consolidates near its lowest since June 17 as sellers wait for a clear break below 1.4000.
ECB September Rate Decision Hinges on Iran Conflict, Nomura Says
Nomura strategists note that Euro area growth, excluding Ireland, remains near potential, but the Iran war casts uncertainty over the ECB’s rate hike path for September.
NZD/USD Steady Near 8-Week Highs, Support at 0.5860 Holds
The New Zealand Dollar remains steady near eight-week highs against the US Dollar, with declines limited above the 0.5860 level, which previously acted as resistance.
EUR/USD Breaks Above 1.15 on Eurozone Growth Surprise
Eurozone GDP growth outpaced the US, pushing EUR/USD above 1.15 for the first time since mid-June, according to Commerzbank.
Yen Mid-Year Outlook: BoJ Rate Hikes Fail to Stem Decline
The Japanese yen continues its downtrend against the US dollar, hitting multi-decade lows despite Bank of Japan rate increases.
Japan Intervenes in FX Market After Yen Hits 40-Year Low Above 163
Japanese authorities stepped into the foreign exchange market to sell dollars and buy yen after the currency weakened past 163, its lowest level in nearly four decades.
STARTRADER expands AI offering with 31 New US Share & ETF CFDs in Semiconductors, Optical Networking & Nuclear
STARTRADER will list 31 new US share and ETF CFDs from Aug 3 on its trading platform and Aug 5 on its app, covering semiconductors, AI infrastructure, optical networking and nuclear energy.
BoE Holds Rates at 3.75%, Dovish Tone Weighs on Pound Outlook
The Bank of England kept its policy rate at 3.75% and Governor Bailey signaled no intention to hike despite US-Iran tensions, adopting a dovish stance that pressures sterling.
USD/JPY Forecast: Decline Below 158.00 Likely Despite Intraday Gains
The US dollar gave back some early gains against the yen but remains 0.5% higher around 160.30. Analysts see a potential decline below the 158.00 level.
AUD/USD Rallies Above 0.7000 as Soft US GDP Fuels RBA Hike Bets
The Australian dollar extended gains against the greenback, trading near 0.7035 as weaker-than-expected US GDP data weighed on the dollar. Expectations for another RBA rate hike this year provided additional support.