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Forex Today: US Dollar firms on safe-haven demand ahead of data-heavy Tuesday
The US Dollar Index (DXY) reclaimed the 99.00 mark for the first time since last Wednesday's plunge.
South Korean Won: Consolidation zone eyed against US Dollar – Commerzbank
Commerzbank’s Charlie Lay and Dr. Henry Hao highlight South Korea’s strong export-led growth and large current-account surplus as key drivers of Korean Won strength against the Dollar.
US Dollar Index: Cautious rebound capped near 100 – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret observe that the US Dollar (USD) is modestly stronger as markets start the week cautiously, with equities defensive and Treasuries firmer.
Chinese Yuan: Gradual appreciation bias with key levels against US Dollar – OCBC
OCBC’s Sim Moh Siong and Christopher Wong highlight that RMB and CNH remain supported by softer USD dynamics and exporter conversion, but the People’s Bank of China is signalling a preference for gradual gains via its fixing.
Silver Price Forecast: XAG pullback tests 100-day SMA
Silver (XAG/USD) price reverses course on Monday, down 0.59% as buyers failed to push the white metal past $70.00, which exacerbated a reversal to the first support level at the 100-day Simple Moving Average (SMA) at $68.42. At the time of writing, XAG/USD trades at $68.52, after peaking at $69.92.
Singapore Dollar: Upside risk stays intact against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann maintain a cautious stance on USD/SGD after Friday’s drop to 1.2682 and close near 1.2700.
Gold rallies as Iran sanctions stoke haven demand
Gold (XAU/USD) price resumes its advance on Monday and refreshes three-month highs at $4,681 as US Treasury Secretary Scott Bessent crosses the wires to reveal sanctions on Iran-linked entities, while investors await a speech by new Fed Chair Kevin Warsh at the Jackson Hole symposium on Friday.
Swiss Franc eases as US Dollar stabilizes after last week’s sell-off
USD/CHF edges higher on Monday as the US Dollar (USD) steadies after last week’s sell-off sparked by the US Treasury’s announcement to increase longer-dated bond buybacks. Market attention has now shifted back to US-Iran tensions after Washington unveiled a fresh sanctions campaign against Tehran.
Euro stalls below recent highs against Pound Sterling as German surveys take center stage
The Euro (EUR) treads water against the Pound Sterling (GBP) on Monday, holding in the mid-0.8500s after struggling to sustain its push toward 0.8580 last week.
Treasury Bessent: US is launching an "economic onslaught" against Iran's financial connection
United States (US) Treasury Secretary Scotts said on Monday the US is launching "an economic onslaught against Iran's financial connections around the globe".
Japanese Yen: Focus shifts to BoJ path – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note that the Japanese Yen (JPY) is slightly softer versus the US Dollar (USD), with USD/JPY trading between 158.00 support and resistance in the upper‑159s.
The Dollar Index takes its orders from the Treasury
A currency whose central bank has held five times, prices no cut this year and still carries an increase by December should not be sitting at the bottom of its three-month range.
The Treasury bids and offers the Dow Jones Industrial Average
The same department that spent the morning telling the bond market it has roughly 950 billion Dollars available to hold long yields down will spend the afternoon announcing sanctions designed to tighten the oil chokepoint that drove those yields up.