Foreign exchange markets and global currency movements.
Coverage of currency markets including major pairs, central bank actions, interest-rate differentials, and geopolitical influences. This section highlights trends in FX markets that impact global trade, inflation, and cross-asset correlations.
775 total articles
The Japanese yen traded dangerously close to its weakest level in nearly four decades, intensifying speculation regarding Tokyo’s readiness to deploy foreign exchange intervention. The USD/JPY pair stabilized around 161.58 yen, remaining perilously close to its 2024 peak of 161.96 yen. Breaching the 162 yen threshold would situate the currency at l…
European Central Bank President Christine Lagarde has urged global leaders to tackle what she describes as an undervaluation of the Chinese currency as part of wider talks on economic imbalances that pose risks to the global economy. Lagarde cited International Monetary Fund analysis indicating the renminbi may be 15-16% undervalued once nominal ex…
The Canadian dollar fell to its weakest level in 14 months as the U.S. dollar strengthened across markets, with the currency trading around 1.4162 per U.S. dollar. Losses were contained after Canada reported stronger-than-expected annual inflation for May, while movements in oil prices and bond yields also shaped market flows.
The South African rand edged higher on Monday, buoyed by improved risk sentiment after U.S. and Iranian officials reported encouraging progress in talks held in Switzerland. The currency traded at 16.40 to the dollar at 1403 GMT, up 0.2% from the previous close. The dollar was broadly steady, Brent crude eased by more than 2%, and South African inv…
A set of foreign exchange options for a range of major currency pairs is scheduled to expire today at 10:00am ET, according to data from the Depository Trust & Clearing Corporation. The expiries cover a mix of strike levels and notional amounts for EUR/USD, USD/JPY, GBP/USD, USD/CAD, AUD/USD, NZD/USD, USD/CHF and USD/NOK, with current spot rates no…
European government bond yields fell on Monday after the start of diplomatic talks between U.S. and Iranian negotiators eased some investor fear, while market participants also awaited guidance from European Central Bank officials later in the day. German 10-year yields moved lower, two-year German notes tracked shifts in ECB rate expectations, and…
The U.S. dollar remained close to multi-month highs, trading near a dollar index level of about 100.9, as investors negotiated mixed signals from U.S.-Iran talks and reassessed the Federal Reserve's policy path. Elevated Treasury yields and market repricing toward a more restrictive Fed stance provided support for the greenback, while developments …
Sterling bounced off earlier losses to trade just above $1.32 on Friday, remaining close to a two-month low and on course for a weekly fall exceeding 1% as robust May retail sales were offset by rising political uncertainty and signs of deteriorating public finances in the UK. EUR/USD was marginally firmer.
European government bond yields ticked upward on Friday after a volatile week that included the announcement of a U.S.-Iran agreement, later volatility from U.S. interest-rate signals, and renewed doubts about implementing the accord following a U.S. official's cancelled trip. Crude oil gained nearly 1%, while the benchmark German 10-year Bund rose…
The Office for National Statistics reported a May budget deficit of £23.3 billion, 30% higher than a year earlier and above economists' median expectations. Earlier forecasts for the 2026/27 fiscal year envisaged a narrower deficit, but a weaker growth outlook and rising borrowing costs have altered the picture. Recent gilt sales showed the highest…
Most Asian currencies traded in narrow bands as the U.S. dollar remained close to a 13-month high following a Federal Reserve policy shift that raised the odds of further U.S. rate increases. The Japanese yen stayed under strain after touching multi-decade lows, while attention also focused on suspended Geneva talks involving the U.S. and Iran and …
The Canadian dollar weakened to its weakest level in 14 months against the U.S. dollar after Federal Reserve comments pushed investors to price in more aggressive U.S. rate action. The currency traded near 1.4135 per U.S. dollar, with the yield gap between two-year U.S. and Canadian government bonds widening to its largest since May 2025. Falling o…
Sterling weakened to its lowest level since early April, with GBP/USD slipping below $1.33 as markets digested a cautious Bank of England and a more hawkish Federal Reserve. The dollar’s strength, supported by shifts in Fed guidance and higher US yields, outweighed improved risk appetite from lower oil prices tied to progress on a US-Iran peace agr…
DTCC data show a cluster of substantial currency option expiries scheduled for the New York cut on Thursday, led by heavy euro contracts at multiple strikes. Significant option volumes are also recorded in yen, Australian dollar, pound and Canadian dollar pairs, as well as several emerging market crosses.
The U.S. dollar strengthened on Thursday after a sequence of developments around the Federal Reserve's latest policy decision led investors to price in a greater chance of additional U.S. rate increases this year. Market participants cited a more hawkish tone in the FOMC statement and projections, a notably less critical reaction from President Don…
Citi recommends buying USD/NOK after a Federal Reserve meeting that delivered a hawkish tone and as Brent crude has retreated below $80 per barrel. The bank’s EUReka model shows three of four fundamental signals favoring the dollar, and Citi believes the Norwegian krone could lose recent gains tied to higher oil prices.
China's removal of tariffs on imports from 53 African countries, combined with an almost 18% increase in China-Africa trade last year and new payment links, is encouraging greater use of the Chinese yuan in cross-border settlements. Banks and exporters report rising yuan transactions driven by trade flows and new infrastructure like CIPS, but relia…
Most Asian currencies recovered modestly on Thursday following steep declines a day earlier, as the U.S. dollar remained near a two-month high after the Federal Reserve indicated it could still raise interest rates later this year. Softer oil prices, following an interim peace agreement between the U.S. and Iran that extended a ceasefire, provided …
Sterling traded just above $1.34 and the euro held near $1.16 as the U.S. dollar firmed broadly in advance of the Federal Open Market Committee announcement under new Chair Kevin Warsh. Brent crude remained below $80 a barrel after news of a U.S.-Iran peace deal, a development that has introduced a dovish tilt to energy markets even as markets awai…
German Chancellor said at the G7 summit that China’s currency may be undervalued by roughly 20% to 30% and should be raised for discussion among world leaders. The comment coincided with a People’s Bank of China announcement to strengthen control over short-term money markets by linking overnight borrowing costs more closely to its seven-day revers…
Citi says the euro-sterling rate is pressing the lower edge of its trading band near 0.86 even though recent indicators suggested the pair should be stronger. The bank attributes the pound's resilience to foreign purchases of U.K. government bonds and notes that its prior bullish stance on EUR/GBP has weakened amid conflicting flow and fundamental …
European government bond yields fell for a fifth straight session as markets absorbed further specifics of the U.S.-Iran peace arrangement. Reports that the U.S. will waive sanctions on Iranian crude and the expected normalization of flows through the Strait of Hormuz have pressured oil prices and reduced energy-driven inflation concerns, encouragi…
Most Asian currencies held near recent levels as the U.S. dollar steadied and market participants awaited details of an interim U.S.-Iran agreement and the Federal Reserve’s policy decision at its first meeting chaired by Kevin Warsh. The U.S. Dollar Index was largely flat after several sessions of declines, while regional currency moves were gener…
Significant option positions across a range of major currency pairs are scheduled to expire Wednesday at the New York cut, with particularly large expiries in USD/JPY, EUR/USD, USD/MXN, AUD/USD, USD/CNY and USD/BRL. Several complementary multi-billion-euro and multi-billion-dollar strikes are also scheduled for mid-June dates, notably June 18 and J…
Two people familiar with the matter told Reuters that Binance's application for a licence under the EU's new MiCA rules, filed with Greece's Hellenic Capital Market Commission (HCMC), is expected to be rejected. The decision would mean Binance could lose the right to offer services to clients across the European Union once the June deadline passes …
