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EUR/USD falls as hot US inflation data boosts Fed higher-for-longer expectations
The Euro (EUR) trades under pressure against the US Dollar (USD) on Tuesday as hotter-than-expected US inflation data strengthens the Greenback and pushes US Treasury yields higher. At the time of writing, EUR/USD is trading around 1.1743, down roughly 0.35% on the day.
Fxstreet
Tue, May 12
British Pound falls as US inflation surprises, UK political turmoil weighs
GBP/USD declines around 1.3525 on Tuesday at the time of writing, down 0.62% on the day, as the US Dollar (USD) benefits from renewed demand following stronger-than-expected US inflation data and a more cautious market mood.
Fxstreet
Tue, May 12
Indian Rupee: India weighs FX defence as Oil rises – BNY
BNY’s Bob Savage reports India is considering emergency steps to protect foreign exchange reserves as higher Oil prices widen the current account deficit. Measures under discussion include fuel price hikes, import restrictions on Gold and electronics, and tighter hedging rules.
Fxstreet
Tue, May 12
USD/JPY Price Forecast: Likely extend advance towards 20-day EMA amid firm US Dollar
The USD/JPY pair trades 0.26% higher to near 157.60 during the European trading session on Tuesday. The pair gains as the US Dollar (USD) outperforms its peers due to renewed tensions between the United States (US) and Iran.Fxstreet
Tue, May 12
EUR/JPY Price Forecast: Steadies above 185.00, moving averages following ZEW Survey data
EUR/JPY pares its daily losses, still remaining in the negative territory and trading around 185.10 during the European hours on Tuesday. The currency cross remains steady following the release of the German ZEW Survey data.
Fxstreet
Tue, May 12
British Pound: Political uncertainty weighs – Commerzbank
Michael Pfister at Commerzbank discusses rising pressure on United Kingdom (UK) Prime Minister Keir Starmer and the implications for the Pound. Markets increasingly expect his resignation, with attention turning to potential successors’ fiscal stances.Fxstreet
Tue, May 12
Australian Dollar: Budget tightening focus – Rabobank
Rabobank's Senior Market Strategist Benjamin Picton highlights comments from Australian Prime Minister Albanese and Treasurer Chalmers ahead of the Commonwealth budget, stressing concerns over an expensive housing market and planned tax changes.
Fxstreet
Tue, May 12
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