The NZD/USD receded during the American session, recovering toward the 0.5880 area as the US Dollar (USD) lost some traction despite ongoing geopolitical risks and political pressure on the Federal Reserve.
The Australian Dollar retreats during the North American session, down more than 0.30%. High tensions in the Middle East, spurred by Iran’s decision not to attend talks with the US in Pakistan. At the time of writing, the AUD/USD trades at 0.7153 after hitting a daily high of 0.7185.
Donald Trump told CNBC's Squawk Box early Tuesday that he didn't want to extend the truce, warning Iran that time was running out. By Tuesday afternoon, the message had flipped.
BNY’s Bob Savage reports that Japan’s Financial System Report judges the banking system broadly stable, with sufficient capital to withstand severe stress scenarios.
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MUFG’s Senior Currency Analyst Lloyd Chan argues that while geopolitical risks stay elevated, valuation metrics such as REER now show meaningful Rupiah undervaluation versus the US Dollar.
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Wednesday FX Options Expiries| FJ
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