Market News
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US yields jump to multi-year highs on Fed tightening bets, bond market turmoil
US Treasury yields stretched to their highest levels in years on Wednesday, fuelled by a mix of rising expectations of further monetary tightening by the US Federal Reserve (Fed), following upbeat US business activity data and a poor US Treasury bond auction.
BoEās Dhingra says financial conditions have already done much of the tightening
Bank of England (BoE) Monetary Policy Committee (MPC) member Swati Dhingra struck a dovish tone on Thursday, highlighting signs of easing price pressures and weakness in the United Kingdom (UK) labour market, according to Reuters.
Mexican Peso: Downward momentum returns after 200-DMA break ā Societe Generale
Societe Generale analysts, including Kenneth Broux, note that USD/MXN has broken above a multi-month descending trend line and reclaimed its 200-day moving average for the first time since April 2025.
PBoC vows to maintain loose monetary policy, keep Chinese Yuan stable
The Peopleās Bank of China (PBoC) said on Thursday that it will step up counter-cyclical adjustments and continue to implement an āappropriately looseā monetary policy, according to Reuters.
Euro: Downside risks start to shrink against US Dollar ā ING
Francesco Pesole at ING argues EUR/USDās break below 1.140 has pushed the pair into stretched undervaluation versus their short-term fair value model, as rate differentials moved in favour of the Euro.
Euro jumps vs Swiss Franc after SNB decision, German IFO data supports
EUR/CHF gains 0.24% on Thursday and trades around 0.9415 at the time of writing, after reaching an intraday high of 0.9433 following the Swiss National Bankās (SNB) monetary policy decision.
Brazilian Real: Exchange rate seen weaker into year-end ā Rabobank
Rabobankās Mauricio Une and Renan Alves note that the Federal Reserve (Fed) raised rates by 25 bps and signaled a more restrictive stance, while Copom cut the Selic rate to 13.75%. The Brazilian Real (BRL) weakened slightly to BRL 5.1462 per USD but still outperformed most emerging peers.
Euro holds firm against British Pound amid strong Eurozone data, hawkish BoE comments
The Euro (EUR) holds gains against the British Pound (GBP) on Thursday, as the EUR/GBP flirts with the 0.8600 area, just below three-month highs, at 0.8607, following a 0.3% appreciation so far this week.
EUR/USD comes under pressure as Fedās Williams warns of more interest rate hikes
The Euro (EUR) faces slight selling pressure against the US Dollar (USD), retreating from intraday high of around 1.1400 to near 1.1380 as the Greenback rises, following hawkish remarks from New York Federal Reserve (Fed) Bank John Willams, who is a permanent voting member.
Swiss Franc: SNB intervention bias dialed down ā Societe Generale
Societe Generale strategists note that EUR/CHF has rebounded about 0.3% after the Swiss National Bank (SNB) left rates at 0.0% but softened its FX intervention language.
Euro gains against Canadian Dollar on upbeat German IFO Business Index
EUR/CAD gains ground after registering modest losses the previous day, trading around 1.6060 during European hours on Thursday. The Euro (EUR) is appreciating as markets react positively to better-than-expected economic sentiment data out of Germany.
South African Rand: SARB hikes again but environment stays tough ā Commerzbank
Commerzbankās Volkmar Baur reports the South African Reserve Bank (SARB) raised its benchmark rate by 25 bps to 7.25%, the second hike this year as earlier expectations for cuts faded with higher Oil prices. Despite the move, South African Rand (ZAR) weakened, largely on Dollar strength.
Euro: Fiscal risks point lower against US Dollar - MUFG
Derek Halpenny at MUFG argues that widening French OAT/Bund spreads and global fixed income risk aversion are adding to negative momentum for the Euro. Political and fiscal uncertainties in France, including a large planned consolidation and budget risks, weigh on sentiment.