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Japanese Yen loses ground amid US PMI data
The USD/JPY pair is trading just below the 160.00 price level on Wednesday, as the US Dollar (USD) remains supported by stronger-than-expected economic data, while the Japanese Yen (JPY) struggles to attract sustained demand amid a cautious market mood.
Fxstreet
Wed, Jun 3
Euro slips against the US Dollar as upbeat US economic data reinforces hawkish Fed bets
EUR/USD ticks lower on Wednesday after closing the previous day virtually unchanged. The Euro (EUR) weakens as stronger-than-expected US economic data boosts demand for the US Dollar (USD), while renewed tensions in the Middle East further support the Greenback.
Fxstreet
Wed, Jun 3
British Pound buckles as Hormuz attacks spark US Dollar rush
The Pound Sterling drops by 0.28% during the North American session as the US and Iran exchange attacks, while data in the US revealed that the labour market remains solid and that business activity expanded but is slowing.
Fxstreet
Wed, Jun 3
British Pound: Range-bound versus US Dollar ahead of BoE – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret highlight that the British Pound (GBP) is trading fractionally lower against the Dollar, with limited fresh data beyond a slightly contractionary services PMI.Fxstreet
Wed, Jun 3
Australian Dollar declines as disappointing GDP, firm US data bolster USD
AUD/USD trades around 0.7145 on Wednesday at the time of writing, down 0.50% on the day. The pair remains under pressure after the release of several disappointing Australian economic indicators, while solid US data continues to support the US Dollar (USD).
Fxstreet
Wed, Jun 3
Japanese Yen: Limited downside against US Dollar as BoJ signals hike – MUFG
MUFG’s Derek Halpenny notes that recent Ministry of Finance (MoF) and Bank of Japan (BoJ) intervention failed to prevent USD/JPY from returning to 160, as higher US yields and renewed Middle East tensions support the Dollar.Fxstreet
Wed, Jun 3
Swiss Franc weakens against US Dollar after strong ADP and ISM Services PMI data
USD/CHF extends its advance on Wednesday as ongoing tensions in the Middle East and stronger-than-expected US labor data lift the US Dollar (USD). At the time of writing, the pair is trading around 0.7900, staying on the front foot for a third straight day.
Fxstreet
Wed, Jun 3
Japanese Yen: Intervention risk shapes FX focus – BNY
BNY’s Bob Savage highlights that USD/JPY remains close to 160.00 as markets price a high probability of a June BoJ rate hike, yet see Governor Ueda as insufficiently hawkish. Japanese authorities stress G7 agreement on limiting excessive FX volatility and pledge cooperation with the U.S.Fxstreet
Wed, Jun 3
Japanese Yen: BoJ tightening and intervention risks – Rabobank
Rabobank’s Senior FX Strategist Jane Foley discusses USD/JPY’s sharp pullback after comments from PM Takaichi and Bank of Japan (BoJ) Governor Ueda. Foley highlights renewed FX intervention risks, a still-firm US Dollar (USD) and speculation over a June BoJ rate hike.Fxstreet
Wed, Jun 3
“SNB has increased readiness to intervene in forex market”: SNB Schlegel hints at near-term intervention
Swiss National Bank (SNB) Chairman Martin Schlegel said during the European trading session on Wednesday that the central bank has increased its readiness to intervene in the Forex market.Fxstreet
Wed, Jun 3
Euro holds steady vs British Pound as upgraded PMIs, shared hawkish stance cap moves
EUR/GBP trades around 0.8635 on Wednesday at the time of writing, with limited movement on the day as investors assess a fresh batch of revised macroeconomic data from the Eurozone and the United Kingdom (UK).
Fxstreet
Wed, Jun 3
Japanese Yen rises sharply against Euro after Takaichi's latest intervention warning
The Japanese Yen (JPY) reflects a sudden jump against its major currency peers in the European trading session on Wednesday. There is a noticeable uptick in the Asia-Pacific currency against its peer, pushing EUR/JPY over 0.3% down to near 185.40.
Fxstreet
Wed, Jun 3
Eurozone and Germany Composite PMIs revised higher: Here’s what it means for EUR/USD
Eurozone’s HCOB Composite Purchasing Managers’ Index (PMI) has been revised higher to 48.5 in May, better than the flash reading and estimates of 47.5. This signifies that the overall business activity continues to contract, but at a moderate pace.Fxstreet
Wed, Jun 3
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