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Chinese Yuan: Oil shock and reserves strategy shape Yuan – Commerzbank
Commerzbank analysts report that USD/CNY is trading near 6.78, with their model implying a slightly stronger PBoC fixing versus the previous day. The Yuan is being influenced by China’s decision to tap domestic oil reserves rather than bid aggressively in global markets.
Singapore Dollar: Downside risk against US Dollar stays in focus – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann keep a mildly positive stance on USD/SGD, looking for a test of 1.2900 in the near term while seeing 1.2915 as a tougher hurdle. On a 1–3 week horizon, they maintain that gains remain intact as long as 1.2830 holds.
Fxstreet
Thu, Jun 11
China: Mixed May data keep recovery uneven – Standard Chartered
Standard Chartered economists Hunter Chan and Shuang Ding assess China’s May data as showing solid production but softer demand. They expect Industrial Production growth to partially recover from April’s slump, supported by strong exports and high-tech manufacturing.Fxstreet
Thu, Jun 11
South Korean Won: Tighter FX oversight aims to steady KRW – Commerzbank
Commerzbank highlights that South Korean authorities have intensified FX monitoring to stabilize the Korean Won, including more frequent reviews of banks’ FX positions and joint inspections with the Bank of Korea. USD/KRW is consolidating around 1,520 after touching its highest level since 2009.Fxstreet
Thu, Jun 11
Thai Baht : Energy shock leaves THB vulnerable – MUFG
MUFG’s Lloyd Chan argues that the Thai Baht is particularly exposed to prolonged Middle East conflict and elevated Oil prices. Thailand’s large net Oil and gas deficit, weakening terms of trade and relatively low domestic yields undermine the currency’s appeal.Fxstreet
Thu, Jun 11
Chinese Yuan: Neutral tone within tight band against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann keep a neutral stance on USD/CNH, expecting intraday consolidation between 6.7760 and 6.7880 after recent directionless trading. On a 1–3 week horizon, the pair is seen holding a broader 6.7620–6.7980 range.Fxstreet
Thu, Jun 11
Taiwan Dollar: Tech outflows and rising inflation weigh on TWD – Commerzbank
Commerzbank notes that USD/TWD has risen for five consecutive sessions to 31.68, driven by foreign equity outflows as global tech stocks correct. Taiwan’s exports and imports are surging on AI-related demand, while CPI has moved above the central bank’s 2% target.
Bank of Japan: Gradual normalisation with higher JGB yields – ING
ING’s Min Joo Kang expects the Bank of Japan to deliver a 25bp rate hike in June, supported by resilient growth, negative real rates and upside inflation risks. Despite soft May inflation, underlying pressures and firm wages justify further normalisation.Fxstreet
Thu, Jun 11
Swiss National Bank: Policy pause and FX stance – Nomura
Nomura analysts Josie Anderson, George Buckley, Andrzej Szczepaniak and David Seif expect the SNB to keep its policy rate at 0.00% at the 18 June meeting. They highlight low Swiss inflation, mixed activity data and ongoing Iran war uncertainty.Fxstreet
Thu, Jun 11
Bank of England: One summer hike seen as likely – ING
ING’s James Smith highlights a softer UK backdrop than in 2022, with vacancies falling, unemployment rising and wage growth slowing, while firms and workers have limited pricing and bargaining power. He judges that the Bank of England (BoE) is torn between a prolonged pause and a symbolic move.Fxstreet
Thu, Jun 11
United Kingdom: Upside CPI risks building into 2027 – Deutsche Bank
Deutsche Bank’s Sanjay Raja expects UK headline CPI to edge up to 3.01% year-on-year in May, with core CPI at 2.72% and Services CPI at 3.65%. The bank projects CPI to average 3.1% this year before easing to 2.6% next year and 2.3% in 2028, with risks to inflation seen skewed to the upside.Fxstreet
Thu, Jun 11
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