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British Pound dives to five-week lows below 1.3350 as UK political crisis deepens
The British Pound (GBP) extends losses against the US Dollar (USD) for the fourth consecutive day on Thursday, trading at 1.3337 at the time of writing, as the crisis in the UK cabinet deepens, fuelling concerns about a power vacuum that might trigger another fiscal crisis.
Fxstreet
Fri, May 15
EUR/JPY Price Forecast: Slips below 184.50 near the confluence around descending wedge top
EUR/JPY continues its losing streak for the fourth successive day, trading around 184.40 during the European hours on Friday. The technical analysis of the daily chart indicates the currency cross is positioned slightly below the upper boundary of an emerging descending wedge pattern.
Fxstreet
Fri, May 15
USD/CHF Price Forecast: Advances to two-week high to test 0.7865 confluence on bullish USD
The USD/CHF pair prolongs its weekly uptrend for the fifth consecutive day on Friday and touches over a two-week high, near the 0.7860-0.7865 region during the early European session amid a broadly firmer US Dollar (USD).
Fxstreet
Fri, May 15
Turkish Lira: Reserve drain and inflation risks – Commerzbank
Commerzbank’s Tatha Ghose flags a sharp March deterioration in Turkey’s balance of payments, with a near-doubling of the current-account deficit, heavy capital outflows and a record drop in official reserves. The bank argues underlying vulnerabilities predated the Iran conflict.
Fxstreet
Fri, May 15
AUD/USD Price Forecast: Near-term bias turns bearish as correction extends below 20-day EMA
The AUD/USD pair trades 0.8% lower to near 0.7160 against the US Dollar (USD) during the European trading session on Friday. The Aussie pair faces intense selling pressure as the US Dollar outperforms its peers amid a significant surge in US Treasury yields.
Fxstreet
Fri, May 15
British Pound: Political strain weighs on Sterling – Commerzbank
Commerzbank’s Michael Pfister highlights mounting political turmoil in the United Kingdom (UK), with resignations and leadership speculation tightening pressure on Prime Minister Keir Starmer. He sees rising uncertainty over future fiscal policy as negative for the Pound (GBP).
Canadian Dollar declines to near 1.3750 as Trump–Xi summit supports US Dollar
The USD/CAD pair gathers strength to around 1.3755 during the early European trading hours on Friday. The pair is set for its largest weekly gain in more than two months, as rising energy prices stoked inflationary pressures, boosting expectations of a Federal Reserve (Fed) rate hike this year.
Fxstreet
Fri, May 15
AUD/JPY Price Forecast: Slips to near 114.00, but maintains bullish structure above 100-day average
The AUD/JPY cross trades in negative territory around 114.00 during the early European session on Friday. The China-proxy Australian Dollar (AUD) softens against the Japanese Yen (JPY) amid the lack of progress to open the Strait of Hormuz.
Fxstreet
Fri, May 15
British Pound hangs near one-week low vs JPY; seems vulnerable below 212.00/100-day SMA
The GBP/JPY cross drifts lower for the second consecutive day – also marking the third day of a negative move in the previous three – and slides below the 212.00 mark, hitting a one-and-a-half-week low during the Asian session on Friday.
Fxstreet
Fri, May 15
British Pound declines to near 1.3350 amid UK political uncertainty
The GBP/USD pair faces some selling pressure near 1.3365 during the Asian trading hours on Friday. The British Pound (GBP) weakens against the US Dollar (USD) amid political uncertainty in the United Kingdom (UK) and risk-off sentiment.Fxstreet
Fri, May 15
Australian Dollar softens to near 0.7200 as Trump and Xi set for second day of talks
The AUD/USD pair attracts some sellers to near 0.7205 during the early Asian trading hours on Friday. Markets remain cautious ahead of the second day meeting between US President Donald Trump and Chinese President Xi Jinping in Beijing on Friday.Fxstreet
Fri, May 15
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