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Indonesia Rupiah Gains Temporary Relief After BI Rate Hike, But Confidence Still Fragile
Bank Indonesia's emergency rate hike has provided short-term support for the Rupiah, but the currency's muted rally signals that investor confidence has not been fully restored. The question remains whether higher interest rates can address deeper structural challenges.
Japanese Yen Gains After Weak US Industrial Output, BoJ Decision Ahead
USD/JPY trades cautiously as recent US industrial production data came in softer than expected, while the market awaits the Bank of Japan's upcoming rate decision.
New Zealand Dollar Rises on US-Iran De-Escalation Ahead of Fed Decision
NZD/USD trades around 0.5840, up 0.17% on the day, as broad-based US Dollar weakness follows a reported framework agreement between the US and Iran to end hostilities. Markets await the Federal Reserve's policy decision.
Swiss Franc Gains as US-Iran Peace Deal Dents Safe-Haven Demand for USD
The Swiss Franc strengthened against the US Dollar on Monday after a US-Iran peace agreement reduced safe-haven demand for the greenback.
Fed Meeting with Warsh in Focus, BOJ Rate Hike Expected
Key events this week include a Federal Reserve meeting under new leadership with Mr. Warsh, a Bank of Japan rate hike expected tonight, and industrial production data from the eurozone and the US.
Gold Surges 2.5% on US-Iran Deal and Falling Oil Bets
Gold (XAU/USD) opened the week with a 2.5% gain after the US and Iran reached a framework agreement to end the Middle East conflict, while declining oil prices reduced expectations of rate hikes.
Japanese Yen in Focus as Risk Flows Shift on Geopolitical Easing
BNY's Bob Savage highlights the Japanese Yen as FX markets react to geopolitical de-escalation and shifting risk sentiment. The reopening of the Strait of Hormuz supports risk assets, while policy divergence involving JPY and KRW draws attention.
BNY: Dollar Trades in Risk-On Mode After US-Iran Strait of Hormuz Deal
BNY’s Bob Savage notes the US Dollar is trading in a broader risk-on environment following the US-Iran agreement to reopen the Strait of Hormuz, which eased energy supply fears. FX markets are focused on policy divergence, with the dollar’s trajectory being reassessed alongside the yen.
SNB to Hold Interest Rates at 0% Through End of 2026, Reuters Poll Shows
All 35 economists surveyed in a Reuters poll expect the Swiss National Bank to keep its policy rate at 0% at the June 18 meeting and for the remainder of the year, with 28 of them forecasting no change through end-2026.
MUFG: Yen Short Positioning Elevated Ahead of BoJ Hike, USD/JPY Holds Above 160
MUFG analyst Lee Hardman notes that the Japanese yen has not benefited from lower energy prices, with USD/JPY still above 160.00 as short positioning remains elevated before the Bank of Japan's expected rate hike.
ECB's Kazimir Stresses Frontloading Rate Hikes Despite US-Iran Peace Deal
European Central Bank Governing Council member Peter Kazimir has emphasized the need for further interest rate increases, even after the peace deal between the US and Iran.
NBC: USD/CAD May Remain Range-Bound
National Bank of Canada notes USD/CAD has been consolidating and may stay range-bound amid shifting expectations for the Federal Reserve and Bank of Canada.
AUD/USD Holds Near 0.7090 with Bullish Pressure Mounting
The Australian Dollar trims earlier gains against the US Dollar on Monday as markets assess the US-Iran peace agreement ahead of a busy central bank week.
Yen Strengthens as US Dollar Gaps Down, Trump Announces Iran Deal
The US dollar opened with a downside gap that may persist, as President Trump announced a deal with Iran reopening the Strait of Hormuz from June 19, boosting the yen.
Rabobank Sees Gradual Upside Path for Euro
Rabobank's FX strategy team outlines a gradual upside path for the euro, noting that the dollar's initial safe-haven gains during the Iran conflict have faded after a ceasefire memorandum eased tensions and reduced Fed hike expectations.
AUD/USD Rises as US-Iran Framework Lifts Risk Appetite Ahead of RBA Decision
AUD/USD trades higher around 0.7070, up 0.35% on the day, as a US-Iran framework agreement boosts risk appetite ahead of the Reserve Bank of Australia decision.
USD Extends Losses After US-Iran Interim Deal – MUFG
MUFG’s Lee Hardman notes the US Dollar has extended losses after the US and Iran reached an interim agreement to end conflict and reopen the Strait of Hormuz.
BBH: Riksbank to Hold Rate at 1.75%, Lean Against Hike Expectations
Brown Brothers Harriman expects the Riksbank to keep its policy rate unchanged at 1.75% for a sixth consecutive meeting and push back against market expectations of a 25 basis point hike.
US-Iran MoU Unwinds War Risk Premium; Rate Decisions Ahead
Reports of a US-Iran Memorandum of Understanding are unwinding the Iran war risk premium, though the deal remains to be signed and nuclear issues persist. Meanwhile, SpaceX gains in premarket and a packed week of central bank rate decisions begins.
Silver Rises 3.91% on Monday to $70.69
Silver prices climbed on Monday, reaching $70.69 per troy ounce, a 3.91% increase from the previous level of $68.03, according to FXStreet data.
Eurozone Industrial Production Rises 0.1% in April, Misses Estimates
Eurozone industrial output edged up 0.1% month-on-month in April, below the 0.3% consensus, while March's growth was revised higher to 0.4%.
USD/CHF Slides Below 0.7950, Technicals Hint at Bullish Bias
USD/CHF fell nearly 0.5% to trade around 0.7930 during European hours on Monday. Despite the dip, the daily chart shows the pair remains inside an ascending channel, suggesting the bullish trend may continue.
EUR/GBP Bulls Test 0.8644 Resistance on Risk-On Sentiment
The euro strengthened against the pound on Monday, with EUR/GBP approaching one-week highs near 0.8645 as risk appetite improved.
Euro Rises vs Yen on US-Iran Deal; BoJ in Focus
The Euro strengthened against the Japanese Yen during Monday's European session, gaining 0.26% to near 185.85, supported by a US-Iran agreement. Market attention now turns to the Bank of Japan's policy outlook.