News
Important Only
South Korea's won gains after report on US demand for stronger currency
SEOUL, May 21 (Reuters) - South Korea's currency rose sharply against the dollar on Wednesday after a media report that the United States had demanded that Seoul come up with measures to boost the won. Last month, South Korea and the United States agreed to craft a trade package aimed at removin...Reuters
Wed, May 21
FOREX-Dollar drops as traders fret over Trump tax bill
Trump failed to convince Republican holdouts who could block billBessent to talk currencies with Japanese counterpart on G7 sidelines"Sell America" investment theme continues to weigh on dollarBy Kevin Buckland and Amanda Cooper TOKYO/LONDON, May 21 (Reuters) - The dollar fell for a third...Reuters
Wed, May 21
Mexican Peso retreats against the US Dollar ahead of Mexican Retail Sales data, US tax vote
The Mexican Peso (MXN) and the US Dollar (USD) are gearing up for a crucial day of economic and fundamental headwinds, which could offer further insight into the current and projected growth outlooks for both economies.
Fxstreet
Wed, May 21
USD/JPY: Bias for USD is on the downside – UOB Group
There is scope for US Dollar (USD) to edge lower to 143.80 vs Japanese Yen (JPY); a sustained break below this level seems unlikely. In the longer run, the bias for USD is on the downside toward 143.80, potentially to 143.30, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Fxstreet
Wed, May 21
AUD/USD Price Forecast: Sets for volatility expansion
The AUD/USD pair moves higher to near 0.6460 during European trading hours on Wednesday. The Aussie pair gains as the US Dollar (USD) continues to underperform its peers on the back of the United States (US) Sovereign Credit rating erosion.
Fxstreet
Wed, May 21
Lagarde is positive on the strong Euro – Commerzbank
News of a potential Israeli attack on Iran's nuclear facilities is causing EUR/USD to rise this morning and shows that the euro is currently still favored as a safe haven against the dollar. However, this does not seem to be a problem, at least for the ECB.Fxstreet
Wed, May 21
Euro reinsurers' RoE slips to 17.5% in Q1, but 2025 targets within reach: Fitch
May 21 - (The Insurer) - European reinsurers’ average return on equity (RoE) declined to 17.5% in the first quarter of 2025 from 21.2% a year earlier owing to large loss expenditures, Fitch Ratings said in a report released on Tuesday.Scor and Swiss Re bucked the trend with improved RoEs in the quar...Reuters
Wed, May 21
EMERGING MARKETS-EM stocks hit 7-month peak; South Africa rand near 5-month high ahead of budget
EM stocks up 0.7%, FX up 0.1%Morgan Stanley ups forecast for EM stocksSouth Africa rand steady ahead of budgetIsrael bonds fall on report of planned strike on Iran's nuclear facilities By Nikhil Sharma May 21 (Reuters) - Emerging market stocks hit a more than seven-month high on Wednesday, re...Reuters
Wed, May 21
NZD/USD: Outlook remains mixed – UOB Group
New Zealand Dollar (NZD) is likely to trade in a sideways range of 0.5905/0.5945 against the US Dollar (USD). In the longer run, outlook remains mixed, but NZD is likely to trade in a tighter range of 0.5835/0.5985, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Fxstreet
Wed, May 21
EUR/USD advances further on US credit downgrade, concerns over Trump’s tax bill
EUR/USD jumps to near 1.1350 on Wednesday, extending its winning streak for the third trading day. The major currency pair strengthens as the US Dollar (USD) continues to face a sharp selling pressure amid the United States (US) credit rating erosion.Fxstreet
Wed, May 21
South Korea says discussions on exchange rates under way with US
SEOUL, May 21 (Reuters) - South Korea's finance ministry said on Wednesday that it is in working-level discussions on exchange rates with the United States, adding that no details have been finalised. The ministry was responding to a report from the Korea Economic Daily that Washington has deman...Reuters
Wed, May 21
Russian rouble near highest against US dollar since June 2023
MOSCOW, May 21 (Reuters) - The Russian rouble briefly strengthened past the level of 80 to the U.S. dollar on Wednesday before rebounding, but remained close to its highest level since June 2023. By 1000 GMT, the rouble RUB= was up 0.4% at 80.30 per U.S. dollar, LSEG data based on over-the-coun...Reuters
Wed, May 21
AUD/USD: Likely to trade in a sideways range of 0.6400/0.6450 – UOB Group
Australian Dollar (AUD) is likely to trade in a sideways range of 0.6400/0.6450 vs US Dollar (USD). In the longer run, outlook is mixed; AUD is likely to trade in a range between 0.6370 and 0.6480, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.Fxstreet
Wed, May 21
GBP/USD: Major resistance at 1.3445 is likely out of reach – UOB Group
Pound Sterling (GBP) could edge higher and test 1.3420; the major resistance at 1.3445 is likely out of reach for now. In the longer run, GBP could continue to rise; based on the current momentum, it might find 1.3445 difficult to break, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Fxstreet
Wed, May 21
UK inflation jumps in April, raising prospect of BoE rate cut delay
UK annual inflation rate hits 3.5% in AprilSurge is bigger than economists and Bank of England predictedHuge increase in Easter airfares pushes up services pricesInvestors push back Bank of England rate cut betsBy Andy Bruce and William Schomberg May 21 (Reuters) - Britain suffered a bigger-than-...Reuters
Wed, May 21
Bloomberg terminal suffers outage, delays UK gilt sale - UK DMO, traders
LONDON, May 21 (Reuters) - News and data company Bloomberg suffered an outage to its terminal for financial professionals on Wednesday, which disrupted customer activity, including delaying a UK gilt auction, according to the UK Debt Management Office and market sources. "Due to the ongoing mark...Reuters
Wed, May 21
AUD/JPY remains steady near 93.00, downside appears due to hawkish tone surrounding BoJ
AUD/JPY remains steady and is holding ground near 92.80 during the Asian trading hours on Wednesday. The currency cross depreciated by more than 0.50% in the previous session following the interest rate cuts from the Reserve Bank of Australia (RBA) and the People’s Bank of China (PBoC).
Fxstreet
Wed, May 21
