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British Pound weakens below 1.3500 as US launches new wave of strikes against Iran
The GBP/USD pair trades on a softer note around 1.3470 during the Asian trading hours on Friday. Geopolitical tensions in the Middle East trigger risk-off market sentiment and weigh on the Cable. The preliminary reading of the Michigan Consumer Sentiment Index for July is due later on Friday.
Silver Price Forecast: XAG/USD falls to near $55.50 amid interest rate concerns
Silver price (XAG/USD) remains subdued for the third successive day, trading around $55.50 per troy ounce during the Asian hours on Thursday. Silver is on track to drop over 7% this week as escalating Middle East tensions drive oil prices up.
US President Donald Trump begins widely anticipated address to the nation
US President Donald Trump is delivering a primetime address to the nation from the White House on Friday.
PBOC sets USD/CNY reference rate at 6.7934 vs. 6.7909 previous
On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7934 compared to the previous day's fix of 6.7909 and 6.7734 Reuters estimate.
Japan’s Katayama says ready to act on currency moves whenever necessary
Japan’s Finance Minister Satsuki Katayama said on Friday that the authorities are ready to act on currency moves whenever necessary.Â
New Zealand Dollar rises amid sticky inflation fears, escalating Middle East tensions
NZD/USD inches higher after posting minor losses in the previous day, trading around 0.5840 during the Asian hours on Friday. The currency pair remains stronger as the New Zealand Dollar (NZD) holds its ground following the release of the country's latest food price data.
United States Dollar Index consolidates above 100.50 as traders look to Trump's speech
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, is seen oscillating in a narrow range just above the 100.50 level as traders await US President Donald Trump's speech.
Euro flatlines near 1.1450 amid renewed Hormuz hostilities
The EUR/USD pair holds steady around 1.1445 during the early Asian session on Friday. Traders continue to digest the developments surrounding the Middle East conflicts. The preliminary reading of the Michigan Consumer Sentiment Index for July will be published later on Friday.Â
Iran tells Houthis to close Red Sea oil route if US hits power network — Reuters
Iran has asked Yemen’s Houthi militia to stand ready to close the Red Sea oil route if the United States (US) strikes Iranian power infrastructure, posing a potent new threat to global energy supplies, Reuters reported on Thursday.
Gold tumbles to eight-month low below $4,000 as Middle East tensions reinforce US rate hike bets
Gold price (XAU/USD) falls to near an eight-month low around $3,975 during the early Asian session on Friday. The precious metal extends its downside as rising tensions in the Middle East raise inflation concerns and reinforce expectations of elevated US interest rates.
Fed’s Jefferson: Current policy is well positioned to respond, based on incoming data
Federal Reserve (Fed) Vice Chair Philip Jefferson said that the current policy stance should support the job market and allow inflation to resume decline toward 2% as tariff effects and energy prices pass through, Reuters reported on Thursday.
South Korean Won: BoK hike and semiconductor volatility – BNY
BNY’s Geoff Yu highlights a hawkish 25bp hike by the Bank of Korea (BoK) to 2.75%, with guidance that Gross Domestic Product (GDP) and core inflation will exceed earlier forecasts.
The Japanese Yen is boxed between a floor it hates and a ceiling nobody trusts
Dollar-Yen has spent the week doing almost nothing at the most dramatic level in four decades.