The GBP/USD pair rose to around 1.3355 during the early European session on Tuesday. The British pound strengthened against the US dollar. Investors increased bets that the Bank of England could raise interest rates later this year. Markets expect the central bank to tighten policy to keep inflation under control. Market sentiment toward the pound
The US Dollar (USD) remained under bearish pressure during the European session on Wednesday after weakening against its major counterparts in the previous session. It was trading around 100.80. Market participants turned their focus to upcoming economic data and central bank decisions. The US Bureau of Labour Statistics is set to release the June Producer
The US Dollar remained resilient against its major peers early Friday as investors continued to monitor developments in the Middle East and looked ahead to a fresh batch of US economic data. Market participants are set to focus on the US economic calendar later in the day, which includes the June Export Price Index, Import
Major currency pairs traded in narrow ranges during the European session on Thursday as the US dollar found some support after a two-day decline. Investors shifted their attention to the upcoming US economic releases, including weekly Initial Jobless Claims and June Retail Sales data. The US dollar stabilized after coming under pressure earlier in the
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The US dollar remained supported on Tuesday after benefiting from a risk-averse market environment at the start of the week. Investors also turned their attention to the upcoming US inflation data, while rising geopolitical tensions continued to lift oil prices and pressure several major currencies. The US Dollar Index (DXY), which closed in positive territory
The Japanese yen continued its recent retreat, reaching its lowest level since July 31 as the recent US intervention backfired. The USD/JPY pair rose to 159.43, up by 2.72% from its lowest level this month. Japanese yen retreat continues as carry trade intensifies The USD/JPY pair crashed hard earlier this month, reaching its lowest level
The USD/ZAR exchange rate rose by a few pips today, July 9, as crude oil prices rose following the new strikes in the Middle East. It jumped to 16.50 on Wednesday and then pulled back a bit to 16.37. South African rand falls as geopolitical tensions rise The South African rand softened a bit after
Financial markets remained volatile heading into the weekend as investors avoided taking large positions amid continued uncertainty surrounding the conflict. Market participants largely stayed on the sidelines, limiting major moves across asset classes. The June labor market report from Canada is expected to be the day’s only major economic release with the potential to drive
The Japanese yen softened against the US dollar, even after the Bank of Japan (BoJ) flagged rising risks of faster interest rate hikes in the last meeting. The USD/JPY pair rose to 158.23, up by nearly 2% from its lowest level this month. BoJ signals potential faster interest rate hikes There are signs that the