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British Pound stays weak below 1.3250 as USD bulls retain control ahead of FOMC Minutes
The GBP/USD pair weakens further below mid-1.3200s during the first half of the European session on Wednesday, eroding a major part of the previous day's move higher amid a broadly firmer US Dollar (USD).
Fxstreet
Wed, Oct 7
Canadian Dollar loses ground ahead of FOMC Minutes
The USD/CAD pair gathers strength to around 1.4220 during the early European trading hours on Wednesday. All eyes will be on the Minutes of the Federal Open Market Committee (FOMC) later in the day for signals on a potential rate hike.
Fxstreet
Wed, Oct 7
Japanese Yen: BoJ normalisation supports gains against US Dollar – MUFG
MUFG’s Michael Wan highlights that USD/JPY is still trading above 158, but Governor Ueda’s comments point to further Bank of Japan (BoJ) policy normalisation. Ueda stressed anchoring inflation around 2% and noted upside risks from imports, AI demand and JPY weakness.Fxstreet
Wed, Oct 7
Euro extends its reversal as rising Oil prices offset upbeat German data
The Euro (EUR) heads south against the US Dollar (USD) on Wednesday, giving away Tuesday's gains weighed by rising Oil prices and broad-based US Dollar strength ahead of the release of the minutes of the last Federal Reserve (Fed) meeting.Fxstreet
Wed, Oct 7
USD/JPY Price Forecast: Clings to gains near 158.50, over one-week top amid firmer USD
The USD/JPY pair touches a one-and-a-half-week high, around mid-158.00s during the Asian session on Wednesday, with bulls shrugging off fears about a potential government intervention to support the Japanese Yen (JPY) and taking cues from resurgent US Dollar (USD) demand.Fxstreet
Wed, Oct 7
Swiss Franc declines ahead of release of Foreign Currency Reserves data
USD/CHF extends its gains for the third consecutive day, trading around 0.8330 during Asian hours on Wednesday. Switzerland’s seasonally-adjusted Unemployment Rate was unchanged at 3.1% for the fifth month in a row in September. Foreign Currency Reserves for September will be eyed later in the day.
Fxstreet
Wed, Oct 7
USD/INR remains broadly muted after RBI’s 25 bps hike in Repo Rates to 5.5%
The Indian Rupee ((INR) remains broadly muted at around 96.37 against the US Dollar (USD) after the Reserve Bank of India’s (RBI) monetary policy decision. In the policy meeting, the RBI decide to hike its Repo Rate by 25 basis points (bps) to 5.5%, the first hike since February 2023.Fxstreet
Wed, Oct 7
EUR/JPY Price Forecast: Slips below 178.00 after pulling back from nine-day EMA
EUR/JPY inches lower after posting modest gains in the previous day, trading around 177.90 during Asian hours on Wednesday. Technical analysis of the daily chart shows that the currency cross is remaining within the descending channel pattern, suggesting an ongoing bearish bias.
Fxstreet
Wed, Oct 7
EUR/USD Price Forecast: More downside likely below 1.1160
The Euro (EUR) is down 0.18% to near 1.1238 against the US Dollar (USD) during the Asian trading session on Wednesday. The major currency pair faces selling pressure as the US Dollar regains ground after a corrective move the previous day.Fxstreet
Wed, Oct 7
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