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The Euro drops to its lowest since July as the Dollar keeps climbing
About 80% of the Euro's August rally is gone. EUR/USD climbed from near 1.1350 at the end of July to just above 1.1700 in the second half of August, and on Tuesday it dipped under 1.1450 to its lowest since late July before recovering to trade near that level.
The British Pound sets a new September low as Fed officials argue for more
1.3400 has capped GBP/USD in every session since the Fed raised rates on September 16. The pair went through that level on the day of the decision and has failed to get back above it four times since.
Chinese Yuan: RMB gains hinge on PBoC fix – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong note that the Renminbi (RMB) has extended gains, with USD/CNY breaking below 6.70 as the People's Bank of China (PBoC) strengthened the fix for nine straight sessions ahead of the Trump–Xi meeting.
Singapore Dollar: Sideways bias holds above support against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann maintain a constructive short-term view on USD/SGD, noting recent sideways trade around 1.2760.
South Korea Consumer Sentiment Index increased to 106.6 in September from previous 104.5
South Korea Consumer Sentiment Index increased to 106.6 in September from previous 104.5
Banxico expected to stay put as inflation risks block easing – Reuters
A Reuters poll shows that all economists expect that the Mexican Central Bank (Banxico) will hold rates unchanged at 6.50% for the third straight meeting on Thursday.
ECB’s Nagel says restrictive policy cannot be ruled out
The Bundesbank President and European Central Bank (ECB) member Joachim Nagel crossed the wires at a financial event in London on Tuesday, acknowledging that high energy prices had driven inflation off its 2026 target.
South Korean Won: Export surge supports BoK stance – Commerzbank
Commerzbank reports South Korea’s exports for the first 20 days of September jumped 78.3% year-on-year, extending nine months of double-digit growth and led by a 259% surge in semiconductor exports.
Mexican Peso carry cushion thins as USD/MXN breaks 100-day SMA
The Mexican Peso (MXN) extended its losses for the third straight trading session on Tuesday, down over 0.4% as investors reduce their exposure to the Mexican currency following last week’s Federal Reserve (Fed) decision to raise interest rates.
Asia FX: AI-driven support for regional currencies – MUFG
MUFG’s Michael Wan notes that improved risk sentiment and AI optimism around Meta’s Muse supported a slightly stronger Dollar and stable DM yields.
Chinese Yuan: Gradual decline within tight bands – UOB
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann expect USD/CNH to edge lower intraday but stay confined to a narrow 6.6890–6.6960 range, with a clear break below 6.6890 seen as unlikely. Over one to three weeks, they see downside extending toward 6.6820 as momentum builds.
South Korean Won: Export surge supports KRW recovery – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong report that the Korean Won (KRW) strengthened alongside gains in tech equities, lower Oil prices and strong export data, including a surge in semiconductor shipments.
British Pound sinks as USD shrugs off Hormuz reopening hopes
The Pound Sterling (GBP) dives over 0.17% against the US Dollar (USD) on Tuesday amid newswire reports that Tehran intends to reopen the Strait of Hormuz if the United States meets certain conditions. At the time of writing, GBP/USD trades at 1.3343 after peaking at 1.3387.