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Indonesian Rupiah: BI holds rates to back IDR – BNY
Geoff Yu writes that Bank Indonesia (BI) kept its benchmark rate at 5.75% for a second month in Acting Governor Destry Damayanti’s first decision.
Wed, Aug 19
British Pound jumps as Treasury buyback weakens the US Dollar
The Pound Sterling climbs against the Greenback on Wednesday as the US Treasury stepped up in the markets to offer liquidity support via a buyback of longer-dated bonds, a day after the US 30-year yield hit its highest level since 2007.
Wed, Aug 19
US 10-year Treasury yield tumbles as Treasury steps in to calm bond market
The US 10-year Treasury yield declines sharply on Wednesday, trading at 4.651% at the time of writing after reaching an intraday high of 4.712%.
Wed, Aug 19
Japanese Yen advances as falling Treasury yields pressure US Dollar
The Japanese Yen (JPY) extends its intraday gains on Wednesday as the US Dollar (USD) comes under fresh selling pressure following a sharp decline in longer-term US Treasury yields. At the time of writing, USD/JPY trades around 158.47, its lowest level in more than a week.
Wed, Aug 19
United Kingdom: Energy-driven upside risks – Societe Generale
Societe Generale’s Sam Cartwright notes United Kingdom (UK) headline inflation rose to 2.9% year-on-year in July, driven mainly by higher household energy bills.
Wed, Aug 19
Thai Baht: Higher commodities threaten Baht stability – Commerzbank
Commerzbank analysts note that the Bank of Thailand (BoT) is expected to keep its policy rate at 1.0%, seeing it as sufficiently accommodative. USD/THB has consolidated in a 32.90–33.30 range, with rising global commodity prices and foreign outflows posing downside risks for the Baht.
Wed, Aug 19
Canadian Dollar strengthens as Trump pauses 50% tariffs, Oil prices climb
USD/CAD declines on Wednesday and trades around 1.3810 at the time of writing, down 0.62% on the day.
Wed, Aug 19
Australian Dollar: RBA keeps hawkish bias on inflation – BNY
BNY’s Geoff Yu reports the Reserve Bank of Australia remains concerned about inflation, with Deputy Governor Andrew Hauser saying further rate hikes cannot be ruled out.
Wed, Aug 19
Bank of England: Rate hold baseline with conflict risks – Societe Generale
Sam Cartwright at Societe Generale argues recent easing in United Kingdom (UK) services inflation and labour market loosening support the Bank of England’s wait-and-see stance. The baseline view is Bank Rate stays at 3.75% through 2026 to restrain underlying inflation.
Wed, Aug 19
United States Dollar Index falls as US Treasury doubles long-dated debt buybacks
The US Dollar Index (DXY) comes under fresh selling pressure on Wednesday as longer-term US Treasury yields fall sharply following the Treasury Department’s decision to expand its buyback operations.
Wed, Aug 19
South Korean Won: Growth-driven recovery offers policy lesson – ING
Chris Turner at ING explains that Korea’s earlier massive portfolio outflows and a weaker Korean Won (KRW) pushed USD/KRW to 1560 in June, despite a large current account surplus.
Wed, Aug 19
Fed Minutes expected to shed light on the depth of FOMC hawkish split
The United States (US) Federal Reserve (Fed) will release the Minutes of the July Federal Open Market Committee (FOMC) meeting on Wednesday.
Wed, Aug 19
Chinese Yuan: Policy support eyed as growth slows – Commerzbank
Commerzbank’s Charlie Lay, Dr. Henry Hao and Moses Lim note that China’s July data showed weaker Industrial Production and Retail Sales, underscoring fading momentum at the start of Q3.
Wed, Aug 19
Euro rises to June highs as falling US Treasury yields weigh on US Dollar
EUR/USD climbs sharply on Wednesday, reaching its highest level since June as the US Dollar (USD) comes under fresh selling pressure following the US Treasury’s announcement that it will increase buybacks of longer-dated government debt.
Wed, Aug 19
Australian Dollar: Shallow uptrend risk into next year – Rabobank
Rabobank’s Senior FX Strategist Jane Foley notes AUD/USD is currently on the back foot, with the Australian Dollar the weakest G10 currency on a one-day view. Despite market doubts, Rabobank still expects one more Reserve Bank of Australia (RBA) rate hike this year.
Wed, Aug 19
Indonesian Rupiah: Stability-focused BI stance – UOB
UOB economist Enrico Tanuwidjaja notes that Bank Indonesia (BI) kept the BI Rate at 5.75% in August, prioritizing Rupiah and macro-financial stability over growth.
Wed, Aug 19
US Treasury doubles some long-dated debt buybacks to support liquidity
The United States (US) Department of the Treasury (US Treasury) announced on Wednesday that it will double the size of some of its buyback operations aimed at supporting liquidity in the longer-dated Treasury securities market.
Wed, Aug 19
United Kingdom: Constrained backdrop and BoE risks – Societe Generale
Societe Generale’s Sam Cartwright argues that a new UK Prime Minister has not altered the constrained fiscal backdrop, limiting ambitions on housebuilding, social care, investment and defence.
Wed, Aug 19
China: Policy support and structural shifts – HSBC
HSBC strategists review July data and the latest China Politburo guidance. Retail sales and Fixed Asset Investment softened, while Industrial Production and exports were supported by AI-related and green technology demand.
Wed, Aug 19
Euro: Domestic demand resilience supports EUR – BNY
BNY’s Geoff Yu highlights European Central Bank (ECB) President Christine Lagarde’s warning that Europe’s post-war growth model is eroding as global trade fragments and cheap energy fades.
Wed, Aug 19
