Softer US CPI data for June reduces expectations for a July Fed rate increase, lifting the British pound against the dollar. The GBP/USD pair rose to 1.3405 in early Asian trading Wednesday, extending gains as weaker-than-expected US inflation data eased pressure on the Fe
Softer US inflation data reduces Fed rate hike expectations, pressuring the USD while geopolitical risks limit JPY gains. The USD/JPY pair fell below 162.00 in Asian trading, extending losses for a second session as the US Dollar weakened. Markets scaled back Federal Reser
China’s central bank sets the daily yuan midpoint below market expectations, signaling potential support for the currency. The People’s Bank of China set the USD/CNY reference rate at 6.7910, below the 6.7965 estimate. The move suggests a firmer yuan stance amid recent dep
PBOC sets USD/CNY reference rate at 6.7910, above Reuters estimate of 6.7695, signaling modest depreciation pressure. The People’s Bank of China set the USD/CNY reference rate at 6.7910 for Wednesday’s session, down from 6.7990 the previous day but above the 6.7695 Reuters
Softer-than-expected US inflation figures reduce Fed rate hike pressure, lifting the euro against the dollar. The EUR/USD pair rose to 1.1425 in early Asian trading on Wednesday, extending gains above 1.1400. The move follows softer US inflation data, which eased expectati
PBOC to set daily USD/CNY rate at 6.7695 The People’s Bank of China sets the daily USD/CNY reference rate to guide market expectations. The current trading band permits the currency to move plus or minus 2% from the official midpoint during onshore trading hours.
Chancellor Merz urges China to allow CNY to float freely as trade surplus with EU nears doubling since 2020. European officials are pressing China to address the yuan’s alleged 20–30% undervaluation, arguing it distorts trade competitiveness. Chancellor Merz called for dia
NZD/USD gains after US inflation report The New Zealand Dollar extended its rally, registering solid gains versus the US Dollar after the latest US inflation report. The report tempered speculation of a Fed rate hike and trimmed investors' bets by half. At
June’s US CPI fell 0.4% month-on-month, the steepest drop since 2020, but GBP/USD gains evaporated within hours amid geopolitical risks. The British Pound Sterling briefly spiked to near 1.3450 against the US Dollar after June’s Consumer Price Index fell 0.4% month-on-mont
Electric vehicle maker Lucid Group faces unwarranted bankruptcy speculation due to misidentification with a separate trading firm. Lucid Group (LCID) shares came under pressure Monday as unfounded bankruptcy rumors circulated, mistakenly linking the electric vehicle manufa
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