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EUR/JPY holds position below 169.00 following Tokyo Consumer Price Index data
EUR/JPY remains subdued for the second successive session, trading around 168.90 during the Asian hours on Friday. The currency cross holds little losses following the release of the Tokyo Consumer Price Index (CPI) data.
Japanese Yen reverses softer Tokyo CPI-inspired intraday losses
The Japanese Yen (JPY) weakened across the board during the Asian session on Friday in reaction to data showing that consumer inflation in Tokyo slowed sharply in June. Adding to this, Japan's Retail Sales recorded growth for the 38th consecutive month, though at the slowest pace since February.
US Dollar Index attracts some sellers below 97.50, US PCE data in focus
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, remains on the defensive near 97.25, its lowest level in three and a half years during the Asian session on Wednesday.
Australian Dollar gains ground as US Dollar struggles amid concerns over Fed independence
The Australian Dollar (AUD) inches higher on Friday, extending its winning streak for the fifth successive session. The AUD/USD pair remains stronger as the US Dollar (USD) struggles due to renewed concerns over the US Federal Reserve's (Fed) independence.
PBOC sets USD/CNY reference rate at 7.1627 vs. 7.1620 previous
On Friday, the People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1627 as compared to the previous day's fix of 7.1620 and 7.1771 Reuters estimate.
NZD/USD gathers strength above 0.6050 amid concerns over Fed independence
The NZD/USD pair gains ground for the fourth consecutive day near 0.6065 during the early Asian session on Friday. The uptick of the pair is bolstered by a weakening Greenback amid renewed concerns over the US Federal Reserve's (Fed) independence.
USD/CAD posts modest losses below 1.3650 ahead of US PCE, Canadian GDP releases
The USD/CAD pair trades with mild losses near 1.3640 during the early Asian session on Friday. The US Dollar (USD) weakens against the Canadian Dollar (CAD) amid growing market concerns about the Federal Reserve's (Fed) independence.
Japan's Tokyo CPI inflation eases to 3.1% YoY in June
The headline Tokyo Consumer Price Index (CPI) for June rose 3.1% YoY as compared to 3.4% in the previous month, the Statistics Bureau of Japan showed on Friday.
Fed's Kashkari: Inflation is above 2%, have to get it back to target
Federal Reserve Bank of Minneapolis President Neel Kashkari said late Thursday that inflation is above 2% and it has to get it back to the 2% target.
GBP/USD continues its march up the charts for a fourth straight day
GBP/USD rose on Thursday, stepping into a fourth straight day of firm gains and clipping 44-month highs near 1.3770. A broad sell-off in the US Dollar is bolstering the Greenback's major counter-currencies, helping to push Cable into its highest bids in nearly four years.
US says it reaches understanding to expedite rare earth exports from China
A White House official stated late Thursday that the United States (US) has reached an understanding with China on how to expedite rare earth shipments to the US, according to the Wall Street Journal.
France's Macron: If US 10% tariff stays, Europe will respond by imposing an equivalent on US firms
French President Emmanuel Macron said late Thursday that if the United States (US) 10% tariff stays, Europe will retaliate by imposing an equivalent levy on US companies.
EUR/USD hits 1.1744, nears four-year high as Fed cut bets grow, Trump eyes Powell successor
EUR/USD soars to nearly four-year highs on Thursday, extending its rally to five straight days, with the pair clearing the 1.1700 figure for the first time since September 2021.
Forex Today: US PCE readings gather all the attention
The Greenback retreated further and slipped back to levels last seen in March 2022 as fears over the Fed's independence weighed heavily on investors' sentiment while traders geared up for the release of extra inflation data on Friday.
Canadian Dollar gains ground on Thursday as Greenback weakens
The Canadian Dollar (CAD) found room on the high side on Thursday, rising into its highest bids in over a week against the US Dollar (USD) as global markets push away from the Greenback, giving counter-currencies a leg up across the board.
AUD/USD rises to YTD high as Trump pressures Powell to cut rates, US Dollar falls
The Australian Dollar (AUD) is extending its gains against the US Dollar (USD) and hit a year-to-date high as the greenback weakens and global risk appetite improves.
Banxico cuts rates by 50 basis points to 8% as expected
On Thursday, Banco de Mexico decided to reduce interest rates by 50 basis points, leaving the main interest rate near 8%. The decision was not unanimous, as the Deputy Governor, Jonathan Heath, voted to hold rates unchanged at 8.50%.
GBP/JPY holds near YTD highs as Bailey flags sticky inflation, BoJ remains cautious
The British Pound (GBP) strengthens modestly against the Japanese Yen (JPY) on Thursday, with the GBP/JPY pair trading near year-to-date highs. While gains are limited, the cross remains underpinned by a broadly bullish technical setup, keeping the uptrend intact.
USD/CAD slides as Trump's criticism of Fed Chair Powell weighs on US Dollar
The Canadian Dollar (CAD) ticks higher against the US Dollar (USD) on Thursday, buoyed by broad-based Greenback weakness following fresh criticism of Federal Reserve (Fed) Chair Jerome Powell by the US President Donald Trump.
EUR/JPY steadies near 169.00 as traders await the next catalyst
The Euro (EUR) is experiencing a modest pullback against the Japanese Yen (JPY) on Thursday, after surging over 3% this month.
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