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MUFG: Low Yields Weigh on Thai Baht Despite Lower Oil
MUFG analyst Lloyd Chan says the Thai Baht's underperformance stems from its low-yield status and the Bank of Thailand's growth-friendly policy that limits rate hikes, offsetting the benefit of cheaper oil.
SocGen: BCB Minutes Support Paused Easing, USD/BRL Eyes 200-DMA
Societe Generale strategists note that Brazilian central bank minutes back a gradual easing cycle with pauses, targeting 3% inflation by Q1 2028, while USD/BRL approaches its 200-day moving average.
Gold Price Breaks Below $4,000 as US Dollar Hits 13-Month High
Gold (XAU/USD) collapsed over 3% on Wednesday as the US Dollar surged to a 13-month high, despite falling Treasury yields amid speculation that reopening the Strait of Hormuz could ease inflation.
Why the Loonie's Decline Isn't About Oil
The Canadian dollar has hit a 12-month low against the US dollar, but attributing the move solely to oil prices misses the broader picture, according to a market analyst.
Japanese Yen Faces 162 Resistance After Hawkish BoJ – Scotiabank
The Japanese Yen is only fractionally weaker against the US Dollar but outperforming G10 crosses as markets remain cautious over potential official intervention, according to Scotiabank strategists.
Australian Dollar Weakens as Bulls Fail to Find Catalyst
The Australian Dollar continues to lose momentum, unable to find a catalyst to reverse recent weakness. US Dollar dynamics and geopolitical tensions are weighing on the currency.
Hungary CPI Drop Supports NBH Rate Cuts – Standard Chartered
Standard Chartered highlights that Hungary’s lower CPI, aided by a strong forint and government measures, supports further rate cuts by the National Bank of Hungary.
Gold Hovers Near 2026 Lows as USD Strength Persists
Spot Gold touched $3,964, its lowest since November 2025, before bouncing above $4,000. Persistent US Dollar strength continues to weigh on the metal.
British Pound Weakens After PM Starmer Announces Resignation
GBP/JPY fell to near 213.00 as UK PM Keir Starmer's resignation announcement weighed on sterling sentiment.
BNY: Commodity FX Positioning Shifts as AUD, NZD, NOK Lead Adjustments
BNY's Geoff Yu notes that IMM volume is concentrated in commodity currencies, with AUD, NZD and NOK seeing recent positioning adjustments. NOK and CAD face outflows linked to oil sensitivity and tightening expectations, while NZD and AUD have underperformed.
ECB's Schnabel: Further Hikes Needed to Reach 2% Inflation Target
European Central Bank Executive Board member Isabel Schnabel stated that additional interest rate increases are required to bring inflation back to the 2% target, reinforcing a hawkish stance.
USD/CAD Bulls Retain Upper Hand Above 1.4000
USD/CAD rallied to fresh highs since April 2025 on Wednesday, with bulls maintaining control above the 1.4000 level despite an overbought RSI reading.
MUFG: MYR Bearish vs USD as US Yields Rise
MUFG analyst Lloyd Chan says the Malaysian ringgit has underperformed since the June FOMC meeting, pressured by higher US yields and a widening US-Malaysia rate differential.
Swiss Franc hits ten-month low as hawkish Fed boosts dollar
The Swiss Franc fell to its weakest level in over ten months as expectations of a hawkish Federal Reserve strengthened the US Dollar.
Japanese Yen Holds Near 162 as Intervention Risk Persists
The Japanese Yen trades with minimal losses near 162 against the US Dollar as mixed risk appetite and global equity fluctuations keep markets cautious. Intervention risk remains a key watchpoint amid ongoing Middle East developments.
GBP/USD Oversold Slide Targets 1.30 – Scotiabank
Scotiabank strategists report GBP/USD is weaker, driven by shifting Fed expectations and falling UK yields after inflation moderated, targeting the 1.30 area.
EUR/USD Extends Decline as Fed Tightening Expectations Outweigh German IFO Improvement
The euro fell for a third consecutive day on Wednesday, with EUR/USD trading around 1.1340, down 0.39%, as expectations of additional Federal Reserve tightening bolstered the US dollar and overshadowed better-than-expected German IFO business climate data.
AUD/USD Slips to Three-Month Low as Australian Inflation Cools
The Aussie dollar fell to 0.6890, its weakest in three months, after soft Australian inflation data. Traders now await the US PCE price index for further direction.
Germany's Ifo Survey Signals Tentative Recovery – Commerzbank
Germany's Ifo Business Climate Index rose slightly in June, driven by an improved assessment of current conditions rather than expectations, according to Commerzbank economist Dr. Ralph Solveen, pointing to a tentative recovery.
Scotiabank: Euro Bearish Bias Toward 1.12 vs Dollar
Scotiabank strategists Shaun Osborne and Eric Theoret maintain a bearish bias on EUR/USD, targeting a move to 1.12, citing widening negative Eurozone–US yield spreads and hawkish Fed repricing.
AUD/USD Pressured by Tech Sell-Off Amid RBA Hawkish Stance
ING strategist Francesco Pesole notes AUD/USD remains under pressure from the tech-driven equity sell-off due to the Australian dollar's high correlation with semiconductor stocks. Domestically, hotter core inflation is expected to keep the RBA's communication hawkish.
British Pound Slides Against Yen as BoJ Hawkishness Boosts JPY
GBP/JPY falls on Wednesday as the Japanese Yen strengthens on hawkish signals from the Bank of Japan, with the cross trading near 212.91.
BNY: Recent USD Strength Reflects US Exceptionalism, Not Fresh Buying
BNY's Geoff Yu observes that the recent US Dollar strength is due to US exceptionalism rather than fresh cross-border buying, noting that underweights have already been adjusted.
AUD/USD Extends Decline to Fresh Multi-Week Lows on Fed Hawkish Bets
The Australian dollar continued its sharp selloff against the US dollar, falling to levels not seen since early April as the greenback strengthened on expectations of an early Fed rate hike.