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Forex Today: US Dollar surges to 13-month high as traders assess Global flash PMIs
The US Dollar Index (DXY) surged to a one-year high near 101.40 on Tuesday as investors digested the latest S&P Global US Purchasing Managers Index (PMI), which showed business activity remained resilient. The Manufacturing PMI rose to 55.7 in June, its highest level since May 2022.Fxstreet
Tue, Jun 23
Swiss Franc falls vs USD, climbs against Euro in mixed trade
The Swiss Franc extends its losses for the fifth straight trading day against the Greenback, down 0.15%, as risk appetite sours amid the AI rout and expectations that the Federal Reserve could raise rates later this year. At the time of writing, the USD/CHF trades at 0.8100
Fxstreet
Tue, Jun 23
Japanese Yen: Steadies as USD/JPY rally tires – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret report the Japanese Yen (JPY) is slightly firmer, outperforming G10 peers despite broad US Dollar (USD) strength, as stronger PMIs signal improving growth. They see signs of exhaustion in USD/JPY’s advance with yield spreads stabilizing.
Fxstreet
Tue, Jun 23
Euro stabilizes against British Pound as weak UK PMIs contrast with resilient Eurozone activity
EUR/GBP trades little changed on Tuesday after a sharp slide the previous day, triggered by UK Prime Minister Keir Starmer's resignation, which lifted the British Pound (GBP) across the board.
Fxstreet
Tue, Jun 23
Japanese Yen trades in neutral zone as investors assess US PMIs and ADP data
The USD/JPY pair is trading in a neutral zone on Tuesday as investors digest the latest United States (US) Purchasing Managers Index (PMI) figures and recent ADP employment data, awaiting a stronger catalyst from Federal Reserve (Fed) commentary.Fxstreet
Tue, Jun 23
British Pound falls amid UK political uncertainty, hot US PMI
The Pound Sterling dives over 0.40% on Tuesday as risk appetite shifts sour, as the recently sworn-in MP Andy Burnham prepares to succeed Keir Starmer, who lasted two years at the job. At the time of writing, the GBP/USD trades at 1.3195, after reaching a daily high of 1.3259.
Fxstreet
Tue, Jun 23
British Pound: Fiscal worries cap recovery against US Dollar – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note the British Pound (GBP) is softer versus the US Dollar (USD) after mildly disappointing Purchasing Managers' Index (PMI) and CBI data, with market reaction muted.Fxstreet
Tue, Jun 23
Canadian Dollar: Remains soft as USD trend extends – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) retains a soft undertone despite a first modest gain versus the US Dollar (USD) in eight sessions, helped by firmer May Consumer Price Index (CPI) and steadier US–Canada spreads.Fxstreet
Tue, Jun 23
EUR/USD Price Forecast: Testing 11-month lows at 1.3991 amid broad US Dollar strength
The Euro (EUR) extends losses on Tuesday, with the US Dollar (USD) buoyed by rising hopes of Federal Reserve (Fed) tightening later this year and a cautious market mood, amid the uncertainty surrounding the US-Iran trade deal.Fxstreet
Tue, Jun 23
Japanese Yen: Intervention risk rises with 40-year low against USD – BNY
BNY’s Geoff Yu highlights rising Japanese Yen intervention risk after Finance Minister Satsuki Katayama’s call with U.S. Treasury Secretary Scott Bessent. Japan and the U.S. reaffirmed a shared stance that bold FX action remains possible, even as Katayama avoided commenting on current levels.Fxstreet
Tue, Jun 23
New Zealand Dollar slumps amid hawkish Fed bets, eyes on US PMI data
The New Zealand Dollar (NZD) faces significant selling pressure against its major currency peers during the European session on Tuesday, trading 0.4% lower at around 0.5690. The pair is under pressure as hawkish Federal Reserve (Fed) bets have weakened the appeal of riskier assets.
Fxstreet
Tue, Jun 23
Euro: Inflation scare questioned as 1.13 level eyed – Societe Generale
Societe Generale’s Kenneth Broux and colleagues highlight softer Eurozone PMI price data and a dovish tone from European Central Bank (ECB) President Lagarde as key drivers for EUR/USD. They see the 1.13-handle as in focus, with support around 1.1390 and 1.1350.Fxstreet
Tue, Jun 23
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