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AUD/USD Faces Contention at 0.7000, Momentum Fades Near 0.7300
The Australian dollar's upward trend since late March has stalled ahead of the 0.7300 resistance, with initial support now seen at 0.7000 as the market awaits a fresh catalyst.
Euro Falls to Two-Month Low on Fed Rate Bets
EUR/USD dropped to around 1.1475, marking a two-month low as expectations of a Fed rate hike strengthened the US dollar.
AUD/USD Holds Near 0.7030 as US Labor Data Supports USD
The Australian Dollar trades in a narrow range against the US Dollar on Thursday, with AUD/USD hovering around 0.7030. US jobless claims data points to a steady labor market, providing support for the greenback.
GBP/USD Falls as Fed Hawkishness Overshadows BoE Rate Hold
The British Pound dropped on Thursday as the US Dollar strengthened following the Federal Reserve's hawkish stance, overriding the impact of the Bank of England's decision to keep rates unchanged in a 7-2 vote. GBP/USD fell to 1.3234.
Bank of England Holds Rate at 3.75% as Expected, Deutsche Bank Says
The Bank of England kept its key rate at 3.75% as widely expected, according to Deutsche Bank's Sanjay Raja, who notes a more divided Monetary Policy Committee but a stronger consensus for a prolonged pause.
Euro Set for Weakness as Other Central Banks Leave ECB Alone
The Euro faces headwinds as the ECB's hawkish stance is not supported by BoE, SNB, Norges Bank, and Riksbank. BNY, Rabobank, and Societe Generale highlight different risks for the single currency.
US Dollar Extends Rally Above 100.00 After Hawkish Fed Update
The US Dollar Index (DXY) climbed back above 100.00 following the Federal Reserve’s hawkish policy update under new Chair Kevin. The rally raises the question of whether further gains are sustainable.
USD/JPY Hits 160.95, Near Multi-Year High on Fed Hawkish Stance
USD/JPY traded around 160.85 on Thursday, reaching 160.95, its highest level since July, driven by the Federal Reserve’s hawkish bias and persistent intervention risk from Japan.
RaboResearch: BoE Holds Rate at 3.75% with 7-2 Split, Inflation May Peak Lower
The Bank of England kept its Bank Rate at 3.75% in a 7-2 vote, with two members favoring a 25bp hike. RaboResearch notes that falling energy prices could push inflation below earlier projections.
Pound Faces Tough Task as BoE Navigates Fed Hawkish Surprise
The US dollar surged after the Fed's hawkish surprise, with nine FOMC members forecasting rate hikes in 2026. This complicates the BoE's policy path for the Pound.
UK Unemployment Data Remains Persistent Thorn for Pound Since August 2024
UK unemployment has risen or held steady in most months since August 2024, with only two declines, keeping pressure on the British pound.
USD/CAD Range-Bound Bias Outlined by National Bank of Canada
National Bank of Canada discusses USD/CAD, noting recent moves and expectations for the pair. The report highlights key support and resistance levels and outlines scenarios for a potential breakout.
Norwegian Krone: August Hike Prospects Rise – Nomura
Nomura economists note that Norges Bank kept its policy rate at 4.25% in June but delivered hawkish guidance and a higher rate path, increasing the prospects of an August hike.
Hawkish FOMC Meeting Sees Rate Hike Projections; Dollar Unmoved
The FOMC delivered its most hawkish policy signal of the year, with inflation forecasts raised to 3.6% and nine officials projecting at least one rate hike before year-end. The dollar, however, showed little immediate reaction.
Canadian Dollar Dips as Fed Hawkish Outlook, Weaker Oil Pressure
The Canadian Dollar weakened against the US Dollar on Thursday, with USD/CAD rising to 1.4130 as the Federal Reserve's hawkish stance and lower oil prices weighed on the loonie.
SNB Holds Rate at 0.00%, Keeps FX Intervention Option Open
Nomura reports the Swiss National Bank kept its policy rate at 0.00% in June and reiterated a heightened willingness to intervene in FX markets to curb franc strength.
Euro Rallies Against Pound After BoE Holds Rates
The Euro strengthened against the British Pound after the Bank of England left interest rates unchanged, extending its recovery.
BoE Holds Rate at 3.75% as MPC More United, Says Deutsche Bank
Deutsche Bank's Chief UK Economist Sanjay Raja notes the Bank of England kept Bank Rate at 3.75% as expected, with a more divided MPC on paper but a stronger consensus to hold, citing improved data and lower inflation.
GBP/USD Hits Two-Month Low Below 1.3220 After BoE Holds Rates
The British Pound fell to a fresh two-month low near 1.3200 against the US Dollar after the Bank of England left interest rates unchanged.
Rabobank: Euro Recovery Seen but Forecasts Below Consensus
Rabobank's FX Strategy report notes that the euro played a key role in last year's EUR/USD rally, supported by Germany's looser debt brake and improved European growth outlook, but their forecasts remain below consensus.
Dollar Index Recoupling with Rates, Says Societe Generale
Societe Generale's Kit Juckes notes the Dollar Index is closely tracking EUR/USD, and highlights how President Trump's policies have weakened the Dollar relative to economic and monetary fundamentals.
Norges Bank Hawkish Hold Bolsters Norwegian Krone, BBH Says
Brown Brothers Harriman notes Norges Bank kept its policy rate at 4.25% but reinforced guidance for a future hike, supporting the Norwegian Krone.
Societe Generale: EUR/USD Mirrors Dollar Index Movements
Societe Generale's Kit Juckes notes that EUR/USD closely tracks the Dollar Index, highlighting the dollar's past weakness under Trump and its current alignment with relative interest rates.
SNB Keeps Rates Unchanged at 0.00%, Franc Under Pressure – BBH
The Swiss National Bank held its policy rate at 0.00% for the fourth consecutive meeting. Brown Brothers Harriman notes the neutral stance continues to weigh on the Swiss Franc.