Persistent central bank buying, led by China, offsets rising Treasury yields and dollar strength, supporting gold prices near key levels. Gold prices climbed back above $4,100 an ounce, recovering from a nine-month low as structural demand counters macroeconomic headwinds.
The Australian Dollar rises as traders price in a potential Reserve Bank of Australia interest rate increase. The AUD/USD pair advanced to 0.7010 in early Asian trading on Wednesday, extending gains above the 0.7000 mark. The move follows growing expectations that the Rese
Japan will take steps on foreign exchange as required Japan's Finance Minister said the authorities will take necessary steps on the foreign exchange if necessary. The US-Iran situation has grown very challenging. The Japanese Yen is one of the world's most trade
China’s central bank set the daily yuan midpoint above market expectations, signaling potential depreciation pressure on the currency. The People’s Bank of China set the USD/CNY reference rate at 6.7933, compared with a market estimate of 6.7737. The fix allows the yuan to
PBOC sets USD/CNY reference rate above Reuters estimate, signaling potential easing amid economic growth concerns. The People’s Bank of China set the daily USD/CNY reference rate at 6.7933, weaker than the previous fix of 6.7917 and above the 6.7737 Reuters estimate. The a
Tokyo signals potential unsignaled intervention to curb short yen positions amid geopolitical tensions and a widening US-Japan rate gap. Japan’s Finance Minister Satsuki Katayama declined to specify forex levels for intervention, aiming to deter speculative short yen trade
Speculation over potential Japanese currency intervention tempers yen bears despite a 275 basis point US-Japan rate gap. The USD/JPY pair consolidates above 163.00 in Asian trading, near its highest level since 1986. Caution prevails as markets weigh the risk of Japanese a
The daily yuan reference rate reflects China’s managed float system and influences onshore trading within a 2% band. The People’s Bank of China will announce its USD/CNY reference rate around 0115 GMT, with Reuters estimating a midpoint near 6.7737. The fixing guides onsho
Euro holds gains above 1.1400 The EUR/USD pair trades with mild gains around 1.1405. A hawkish tone from the European Central Bank provides support to the Euro against the US Dollar. Traders await the upcoming ECB interest rate decision.
Japan's June exports increased 17.6% to China Japan's exports in June were higher than expected, driven by strong demand from China, Asia, the US, and the EU. Exports to China rose 17.6% year-over-year, while exports to Asia increased 22.7%. The USD/JPY exc
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