MUFG’s Michael Wan notes the Japanese Yen has strengthened below 154 against the US Dollar (USD), its firmest level since February, as markets price faster Bank of Japan tightening. A 25 bps hike at the 18 September Bank of Japan (BoJ) meeting is … [Continue reading]
US Dollar Index (DXY) struggles below 99.00, two-week low as traders eye US inflation data
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, remains under some selling pressure for the second straight day and drops to an over two-week low during the Asian session on Tuesday. The index currently trades … [Continue reading]
Indonesian Rupiah: Oil and US inflation pose risks – MUFG
MUFG’s Lloyd Chan warns that upcoming US inflation data could test the recent Rupiah recovery, as firmer US inflation may reinforce elevated US yields and challenge USD/IDR’s break below 17,700. He notes limits to domestic buffers, rising foreign … [Continue reading]
British Pound climbs as USD fades, Hormuz risk keeps Fed in play
The Pound Sterling rises by over 0.23% amid thin trading conditions, as US markets remained closed for the Labour Day weekend, while the US-Iran conflict escalated, with both countries exchanging strikes around the Strait of Hormuz. The GBP/USD … [Continue reading]
Ripple Price Forecast: XRP slips and tests $1.40 support amid reduced institutional uptake
Ripple (XRP) falters, trading near $1.40 at the time of writing on Monday. Since the August rally to $1.70, the remittance token has seen capped upside, prompting profit-taking. If the token’s technical structure continues to weaken, recovery could … [Continue reading]
New Zealand Dollar struggles due to cautious RBNZ policy outlook
NZD/USD depreciates after two days of gains, trading around 0.5880 during European hours on Monday. The pair depreciates as the New Zealand Dollar (NZD) faces pressure from cautious sentiment surrounding the Reserve Bank of New Zealand’s (RBNZ) … [Continue reading]
EUR/USD Price Forecast: Holds key 100-day SMA at start of the US CPI week
The Euro (EUR) trades marginally lower at around 1.1610 against the US Dollar (USD) during the Asian trading session on Monday. The major currency pair edges down as the US Dollar ticks up, with investors turning cautious at the start of the United … [Continue reading]
Iran, US trade tanker attacks as Tehran will declare ‘prohibited zone’
Iranian government said that it targeted three oil tankers using an unauthorized route through the Strait of Hormuz, as well as a number of US-linked ships, in retaliation for US attacks on Iranian tankers over the weekend, Bloomberg reported on … [Continue reading]
Malaysian Ringgit: Range-bound risks and key levels against US Dollar – OCBC
OCBC’s Christopher Wong notes that Bank Negara Malaysia (BNM) kept the OPR at 2.75% and struck a slightly firmer tone, with growth expected to stay resilient into 2027. The economist still projects an OPR normalisation to 3.00% in January 2027. Wong … [Continue reading]
USD/MXN Price Forecast: Peso rally targets April 2024 low
The Mexican Peso appreciates against the US Dollar, testing two-year highs near 16.85 as the USD/MXN sets aside a strong US Nonfarm Payrolls report, which was ignored by the Peso’s bears. At the time of writing, the emerging market pair trades at … [Continue reading]