Market news
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Indonesian Rupiah Edges Lower Ahead of BI Policy Decision
USD/IDR rose to around 17,960 during Asian trading on Wednesday, snapping six days of gains as the Indonesian Rupiah weakened ahead of Bank Indonesia's upcoming policy decision.
Yen Breaks 163 per Dollar, Lowest Since 1986
The Japanese yen weakened past 163 per US dollar for the first time in nearly 40 years, signaling exhaustion of easy policy options for Tokyo.
USD/CHF Extends Gains to 0.8130 as Risk Aversion Supports US Dollar
The US dollar strengthened against the Swiss franc for a third consecutive session, pushing USD/CHF to 0.8130 during Asian trading on Wednesday, as escalating geopolitical tensions fueled safe-haven demand.
USD/JPY Hits 1986 High, Targets 164.50-165; EUR/USD May Dip to 1.1350
USD/JPY broke above 162.85, reaching its highest since 1986, with a potential target of 164.50-165. Meanwhile, EUR/USD could dip towards 1.1350, and EUR/JPY may test 187/188 if the USD/JPY rally sustains. Markets are cautious about possible BOJ intervention.
AUD/USD Consolidates Near 0.7000, Awaits 38.2% Fibo Breakout
The AUD/USD pair continues to trade in a narrow range around the 0.7000 psychological level as traders look for a decisive breakout of the 38.2% Fibonacci retracement to signal the next move.
GBP/USD Bounces Off One-Week Low on Iran Diplomacy Hopes, UK CPI in Focus
The British pound rose against the dollar on Wednesday, recovering from a one-week low near 1.3360, as optimism over Iran diplomacy supported risk appetite. Traders now await UK CPI data.
Gold Extends Winning Streak to Third Day, Near $4140; Oil Rally May Cap Gains
Gold price rose 1.5% to near $4,140 during Asian trading on Wednesday, extending its winning streak for a third day. However, the recovery may face headwinds as oil prices continue to gain.
Gold Hits Two-Week High Near $4,141 on US-Iran Diplomacy Hopes
Gold (XAU/USD) rallied to a two-week high around $4,140-$4,141 during Asian trade on Wednesday, supported by optimism that US-Iran diplomacy could lower energy prices and reduce pressure on the Federal Reserve to stay hawkish.
EUR/JPY Tests Ascending Triangle Top Above 186.00
EUR/JPY extends gains for a second straight day, trading near 186.20 during Asian hours. The pair maintains a bullish near-term bias as it holds above both the 9- and 50-period exponential moving averages.
Silver Price Forecast: XAG/USD Rises to Near $60.00 Despite Inflation Fears
Silver (XAG/USD) continues its four-day rally, trading near $59.70 per troy ounce during Asian hours Wednesday, as strong market forces outweigh higher rate-hike expectations.
US Dollar Index Weakens to Near 101.15 Despite Middle East Tensions
The US Dollar Index (DXY) traded near 101.15 in Asian hours on Wednesday, declining amid Federal Reserve rate expectations, even as Middle East tensions persist.
UK CPI Set to Show Receding Inflation in June as GBP/USD Fails at May Highs
The UK Office for National Statistics will release June CPI data on Wednesday. Markets expect inflation to remain above the Bank of England's target but to ease further.
USD/CAD Eases to 1.4100 as Oil Rally Supports Canadian Dollar
The USD/CAD pair retreated from weekly highs during Asian trading Wednesday, settling near the 1.4100 level. Bullish oil prices provided support for the Canadian Dollar, though analysts caution that upside potential may be limited.
NZD/USD Falls as Dollar Strengthens on Safe-Haven Appeal
The New Zealand Dollar weakened against the US Dollar as risk-off sentiment boosted the greenback, with NZD/USD trading around 0.5830 during Asian hours.
AUD/USD Strengthens Above 0.7000 on RBA Hawkish Stance
The AUD/USD pair rose to near 0.7010 in early Asian trading on Wednesday, supported by expectations of a hawkish Reserve Bank of Australia.
Japan Finance Minister Katayama Vows Necessary Forex Steps
Japan's Finance Minister Satsuki Katayama stated Wednesday that authorities will take necessary action on foreign exchange markets if needed, signaling readiness to intervene against excessive yen moves.
PBOC Fixes USD/CNY at 6.7933, Up from 6.7917
The People's Bank of China set the USD/CNY reference rate at 6.7933 on Wednesday, slightly higher than the previous day's fix of 6.7917.
Yen Bears Cautious Near Four-Decade Low Amid Intervention Risk
USD/JPY holds steady above 163.00, near its highest level since 1986, as yen bears turn cautious due to looming intervention risks.
Euro Holds Gains Above 1.1400 on Hawkish ECB Expectations
EUR/USD trades around 1.1405 during early Asian session, supported by a hawkish European Central Bank tone. Traders await the upcoming ECB interest rate decision.
GBP/JPY Holds Near YTD Peak Above 218.20 as Intervention Fears Cap Gains
GBP/JPY consolidates near 218.20 as the pound loses momentum with new UK Prime Minister Andy Burnham, while Japanese intervention fears limit the pair from breaking its year-to-date high.
AUD/USD Flat After Brief Rise Above 0.7050
The Australian Dollar briefly climbed from below 0.7000 to nearly 0.7050 on Tuesday but surrendered all gains during the North American session, ending flat.
USD/CNH Retains Downside Bias Near 6.7600 – UOB
UOB's Quek Ser Leang says USD/CNH maintains a downside bias in both the 24-hour and 1-3 week horizons, with key support at 6.7600 and strong resistance above.
US Dollar Rises as Middle East Tensions Lift Oil Prices
The US Dollar advanced on Tuesday amid escalating US-Iran tensions that pushed oil prices higher and revived inflation concerns, while safe-haven demand supported the Greenback despite softer US inflation and employment data.
Reuters Poll: Fed Expected to Hold Rates Amid Oil Shock and Persistent Inflation
A Reuters poll indicates the Federal Reserve will likely keep interest rates unchanged next week and for the rest of the year due to an oil price shock and inflation remaining above the 2% target for an extended period.