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Japanese Yen strengthens modestly but remains near multi-decade lows
The Japanese Yen (JPY) holds modest gains against the US Dollar (USD) on Wednesday but struggles to extend its recovery despite a broadly weaker Greenback following softer-than-expected US inflation data. At the time of writing, USD/JPY trades around 162.14, down 0.07% on the day.
USD/JPY
Brent
Fxstreet
Wed, Jul 15
British Pound rallies as soft US PPI hits US Dollar
The Pound Sterling rises by some 0.60% against the US Dollar after the latest Producer Price Index (PPI) in the US showed prices edging lower, driven by the dip in energy prices since late May. At the time of writing, the GBP/USD trades at 1.3460 after bouncing off a daily low of 1.3370.
GBP/USD
Fxstreet
Wed, Jul 15
Japanese Yen: Policy urgency and mixed data – BNY
BNY’s Geoff Yu highlights Japanese Prime Minister Sanae Takaichi’s warning that Japan must build a strong economy now, rejecting claims that an economic blueprint drove the JGB selloff.
USD/JPY
Fxstreet
Wed, Jul 15
Euro: Energy risks cap upside against US Dollar – ING
Chris Turner at ING says EUR/USD rallied on softer US CPI but warns that rising Oil and European natural gas prices limit upside. He expects EUR/USD to struggle above 1.1460/70 and potentially retreat toward 1.1360/80 if Oil gains another leg higher.
EUR/USD
Fxstreet
Wed, Jul 15
Australian Dollar rises amid softer US PPI
AUD/USD trades higher near the 0.7000 level on Wednesday as the Australian Dollar (AUD) benefits from broad US Dollar (USD) weakness following softer-than-expected United States (US) producer inflation data.
AUD/USD
Fxstreet
Wed, Jul 15
British Pound: Honeymoon risks for Pound – Rabobank
Rabobank's Senior FX Strategist Jane Foley discusses the British Pound's (GBP) strong performance, noting GBP is the second-best G10 currency over three months despite no Bank of England (BoE) hikes.
GBP/USD
EUR/GBP
Fxstreet
Wed, Jul 15
Euro finds support as soft US PPI weighs on US Dollar
EUR/USD recovers its intraday losses on Wednesday as the US Dollar (USD) comes under pressure after the latest US inflation data surprised to the downside. At the time of writing, the pair trades around 1.1430 after hitting an intraday low of 1.1406.
EUR/USD
Fxstreet
Wed, Jul 15
Brazilian Real: Year-end weakness forecast against US Dollar – Rabobank
Rabobank strategists Mauricio Une and Renan Alves note that the US Dollar (USD) ended the previous week at Brazilian Real (BRL) 5.1086, with the Brazilian Real appreciating 1.2% and ranking third among 24 emerging currencies.
Fxstreet
Wed, Jul 15
Euro: ECB watching energy shock and expectations – BNY
BNY’s Geoff Yu reports that European Central Bank (ECB) officials Piero Cipollone and Martin Kocher are focused on preventing the energy shock and Middle East uncertainty from feeding broader Eurozone inflation.
EUR/USD
Fxstreet
Wed, Jul 15
Euro weakens against British Pound as Bank of England rate hike bets rise
EUR/GBP stays under pressure as reduced political uncertainty in the United Kingdom and expectations of higher Bank of England (BoE) interest rates keep the British Pound (GBP) favoured over the Euro (EUR).
EUR/GBP
Fxstreet
Wed, Jul 15
Canadian Dollar: Tentative flow reversal before BoC – BNY
BNY’s Geoff Yu highlights that selling of Canadian Dollar (CAD) accounts has eased ahead of the Bank of Canada (BoC) meeting, allowing light CAD purchases after prolonged pressure.
USD/CAD
Fxstreet
Wed, Jul 15
British Pound dips below 1.3400, turns negative on the day as US Dollar picks up
The British Pound (GBP) has retraced previous gains against the US Dollar (USD) on Wednesday, returning to the 1.3390 area from session highs of 1.3420 and turning negative on the daily chart.
GBP/USD
Fxstreet
Wed, Jul 15
NZD/USD Price Forecast: Holds onto Tuesday’s gains amid risk-on mood
The New Zealand Dollar (NZD) clings to Tuesday’s gains around 0.5820 during the European trading session on Wednesday. The Kiwi pair reflects strength in a risk-on market environment, driven by easing fears of Federal Reserve (Fed) interest rate hikes this year.
NZD/USD
Fxstreet
Wed, Jul 15
Canadian Dollar holds close to one-month high ahead of BoC decision
The Canadian Dollar (CAD) is facing an upward correction, with the USD/CAD currency pair sliding below the critical 1.4100 mark.
USD/CAD
Fxstreet
Wed, Jul 15
Canadian Dollar: BoC caution limits CAD losses against US Dollar – MUFG
MUFG’s Derek Halpenny reports that the Canadian Dollar (CAD) has benefited from weaker United States (US) Consumer Price Index (CPI) and higher Oil prices, with spreads pointing to modest further gains versus the US Dollar (USD).
USD/CAD
Fxstreet
Wed, Jul 15
British Pound: Modest UK growth and Bailey’s cautious stance – TD Securities
TD Securities projects UK GDP to grow 0.1% month-on-month in May, led by services and strong retail sales, while manufacturing and industrial output remain under pressure from Middle East-related headwinds and higher input costs.
GBP/USD
Fxstreet
Wed, Jul 15
Germany 30-y Bond Auction rose from previous 3.49% to 3.64%
Germany 30-y Bond Auction rose from previous 3.49% to 3.64%
EUR/USD
Fxstreet
Wed, Jul 15
Eurozone Industrial Production unexpectedly declines 0.2% in May
The Eurozone industrial sector activity declines by 0.2% in May, while it was expected to rise at the same pace, according to data published by Eurostat. In April, the Industrial Production data rose by 0.3%, revised higher from 0.1%.
Fxstreet
Wed, Jul 15
Japanese Yen hesitates near 40-year lows as Iran war, Oil prices hold bulls
The Japanese Yen (JPY) struggles in the lower range of the 162.00s against the US Dollar (USD) on Wednesday, not far from the 40-year lows, at 162.85. Rising geopolitical tensions and higher Oil prices offset the positive impact of the soft US consumer inflation data released on Tuesday.
USD/JPY
Fxstreet
Wed, Jul 15
USD/CAD Price Forecast: Reaches nearly monthly lows below 1.4050
USD/CAD remains subdued after registering modest losses in the previous day, trading around 1.4050 during the European hours on Wednesday. The technical analysis of the daily chart indicates the pair is testing the lower boundary of the symmetrical triangle.
USD/CAD
Fxstreet
Wed, Jul 15
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