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EUR/USD Rebounds on USD Pullback but Fed Cap Gains
EUR/USD stages a rebound on Friday as the US Dollar eases, but hawkish Federal Reserve bets limit upside. The pair trades around 1.1470 after bouncing from a three-month low of 1.1417.
EUR/USD Sinks to 1.1417 After Warsh's First Fed Meeting
EUR/USD dropped to 1.1417, its lowest since March, following the first Federal Reserve meeting chaired by Kevin Warsh. The pair recovered slightly but closed below 1.1500.
Nordea: EUR/USD Upside Limited Due to Policy Divergence
Nordea research says EUR/USD upside is constrained by interest rate differentials and relative growth, as the ECB nears the end of its hiking cycle while the Fed continues.
Gold Suffers Third Weekly Loss as Hawkish Fed Reverses Early Gains
Gold (XAU/USD) opened the week with a bullish gap and strong gains, but a hawkish Federal Reserve reversed the move, leading to a third consecutive weekly loss.
Nordea: Wide Yield Spreads Keep USD/JPY Elevated
Nordea expects USD/JPY to remain high as wide US–Japan yield differentials persist and the Bank of Japan stays very accommodative. Any gradual normalization by the BoJ is seen as too modest to materially weaken the yen.
Nordea Sees Dollar Supported by Hawkish Fed, Firm Data
Nordea analysts expect the US Dollar to remain supported in coming months, citing the Federal Reserve's relatively hawkish stance and resilient US economic data.
Canadian Dollar Near April Low on Weak Retail Sales, Lower Oil
The Canadian Dollar weakened against the US Dollar, trading near its April 2025 low, as disappointing Retail Sales data and declining oil prices weighed on the currency. USD/CAD rose to around 1.4170.
Silver Falls for Third Day on Fed Outlook, Mideast Ceasefire
Silver (XAG/USD) declined for a third consecutive session on Friday, dropping 1.31% to around $64.85, pressured by a hawkish Federal Reserve stance and a ceasefire in the Middle East.
ING: Burnham Win Paves Way for UK PM Transition, Upside Risk to EUR/GBP
ING's Francesco Pesole notes that Andy Burnham's by-election win positions him as next UK PM, with betting markets expecting a transition by late summer. The lack of political risk premium in pound assets implies limited fiscal impact, posing upside risk to EUR/GBP.
Gold Heads for Third Weekly Loss as Hawkish Fed, US-Iran Deal Weigh
Gold (XAU/USD) is under pressure, trading near $4,157 after hitting a one-week low, as the Federal Reserve's hawkish stance and a potential US-Iran peace deal reduce safe-haven demand.
Pound Drops After BoE Holds Rate at 3.75% on Cautious Outlook
The British pound fell sharply after the Bank of England kept its key interest rate unchanged at 3.75%, later recovering slightly to trade near 1.3236. The decision was split 7-2, with two members favoring a hike.
DBS: Japanese Yen Intervention Risks Rise as USD/JPY Breaks Above 161
DBS Group Research strategist Chang Wei Liang notes that USD/JPY has broken above 161, returning to levels that previously triggered official intervention, thereby raising the risk of further action by Japanese authorities.
USD/JPY Nears Intervention Zone After Fed Hawkish Hold – UOB
UOB Global Economics & Markets Research warns that USD/JPY has surged to 161.37 following the Fed’s hawkish hold, approaching levels that prompted Japanese authorities to intervene previously.
US Dollar Index: Upside Case from Flows and Yields – BBH
Brown Brothers Harriman analyst Elias Haddad cites strong foreign demand for long-term US securities and sustained yield advantages as support for the US Dollar Index.
UOB: SGD NEER Strength Caps USD/SGD Upside at 1.2900
UOB Global Economics & Markets Research notes that USD/SGD closed at 1.2900, with the Singapore Dollar Nominal Effective Exchange Rate (S$NEER) estimated at 1.75% above the mid-point, limiting further upside.
Gold Extends Losses to One-Week Low Near $4,120 on Fed Tightening Bets
Gold (XAU/USD) fell for a third consecutive day on Friday, hitting a one-week low at $4,121 as expectations of tighter Federal Reserve policy weighed on the precious metal.
EUR/USD Extends Decline as Dollar Hits One-Year High – UOB
UOB Global Economics & Markets Research notes that EUR/USD remains under pressure, extending its recent decline as the US Dollar Index surged to a fresh one-year high after the Fed's hawkish stance.
Brent Oil Eases Asia FX Pressures After US-Iran Agreement, DBS Says
DBS Group Research notes that lower Brent oil prices, driven by an interim US-Iran agreement reopening the Strait of Hormuz, are reducing pressure on Asian foreign exchange markets.
MUFG Sees USD Upside Limited After Hawkish Fed Dot Plot
MUFG analyst Derek Halpenny notes the US Dollar has extended gains following a record hawkish shift in the Fed's dot plot, but sees upside scope as limited. Oil prices remain sharply lower.
ING: Intervention Risks Rise for Yen as USD/JPY Holds Elevated
ING strategists warn that the dollar's post-Fed gains keep USD/JPY in intervention territory, with risks rising amid thin US holiday liquidity.
USD/JPY Holds Near Multi-Decade High as Intervention Fears Mount
USD/JPY consolidates above 161.00 after hitting 161.80, just below the four-decade peak of 161.95 from June. Market participants eye possible intervention by Japanese authorities.
GBP/USD Pressure Builds on By-Election Uncertainty, DBS Warns
DBS Group Research strategist Chang Wei Liang says GBP/USD could remain volatile after easing toward 1.32, citing uncertainty from a by-election where Labour candidate Burnham leads in Makerfield.
SNB Cautious, Swiss Franc Has Limited Downside – MUFG
MUFG's Derek Halpenny notes that the Swiss franc underperformed after the SNB left rates unchanged at zero, but minor inflation forecast revisions underscore expectations of persistently low inflation, limiting downside.
Dollar Rallies on Fed Moves, Posts Best Two-Day Gain Since Middle East Conflict
The US dollar recorded its best two-day rally since the start of the Middle East conflict, driven by Federal Reserve policy and safe-haven demand.