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Japan's Katayama says Japan will take 'decisive action' against speculative FX moves
Finance Minister Satsuki Katayama returned to the verbal channel on Monday, signaling Tokyo's readiness to take decisive action against speculative foreign exchange moves under last September's bilateral agreement with the US, just two trading days after the Ministry of Finance (MoF) and Bank of Jap
Fxstreet
Mon, May 4
EUR/GBP edges higher as Middle East tensions lift volatility, UK politics in focus
EUR/GBP edges higher on Monday as ongoing tensions in the Middle East keep market volatility elevated, while political uncertainty in the UK adds modest pressure on the British Pound (GBP). At the time of writing, the cross is trading around 0.8645, recovering from an intraday low of 0.8629.
GBP/USD recoils as Hormuz risks lift US Dollar and WTI
GBP/USD falls on Monday as tensions in the Middle East remain high as Iran threatens US Navy to not enter the Strait of Hormuz, amid growing speculation that Tehran’s launched missiles to a US warship. At the time of writing, the pair trades at 1.3531, slightly down 0.34%.
JPY: Intervention bounce faces policy doubts – Commerzbank
Commerzbank’s Thu Lan Nguyen writes that suspected MoF/BoJ intervention has strengthened the Japanese Yen (JPY), but questions how long gains will last. Markets still doubt the Bank of Japan's (BoJ willingness to respond forcefully to inflation, and see the JPY as a G10 laggard.Fxstreet
Mon, May 4
AUD: RBA seen leaning to another hike – Commerzbank
Commerzbank’s Volkmar Baur highlights strong market conviction that the RBA will deliver a third consecutive rate hike, with futures implying a 75% probability. Inflation and expectations remain well above target and RBA rhetoric has turned more hawkish.Fxstreet
Mon, May 4
EUR/USD: Resilient above 1.17 with ECB split – BNY
BNY’s Bob Savage points out that the Euro is holding above 1.1700 even as the US Dollar (USD) firms, with markets weighing divergent European Central Bank (ECB) rhetoric. François Villeroy de Galhau argues for waiting for more data, while Peter Kažimír signals near-certainty of a June rate hike.Fxstreet
Mon, May 4
Australian Dollar declines as risk-off sentiment lifts US Dollar
AUD/USD pulls back from 46-month high of 0.7227, reached on May 1, trading around 0.7200 during the European hours on Monday. The pair weakens as the US Dollar (USD) gains on safe-haven demand after Iran’s armed forces warned of a harsh response if the United States (US) enters the Strait of Hormuz.Fxstreet
Mon, May 4
NZD/USD inches higher to near 0.5900 as US-Iran tensions lift US Dollar
NZD/USD holds ground after experiencing volatility, trading around 0.5900 during the European hours on Monday. The pair gains ground as the US Dollar (USD) has recovered its daily losses and is extending its gains amid uncertainty surrounding the United States (US)–Iran peace negotiations.Fxstreet
Mon, May 4
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