Forex News — page 8

Sterling steadies near the 1.3000 level after news of Keir Starmer's resignation and reports of Downing Street staff departures, with markets largely expecting the developments amid ongoing political pressure

Castlelake reportedly failed in its third attempt to acquire EasyJet with a 625 pence per share offer, which was rejected by the British airline as a deadline concluded without a deal.

The yen slid past 161 per dollar toward its weakest level in about 40 years, prompting Japan's finance minister to warn Tokyo will "act decisively" — but with the move driven by a hawkish Fed and a wide rate gap, a record ~$73 billion of recent intervention and a BOJ rate hike have failed to reverse the slide.

A report says several UK cabinet ministers plan to press PM Keir Starmer to set a departure timetable, reviving leadership questions that have dogged his government all year — adding a layer of domestic political risk for a pound already pressured by a hawkish Fed, a stronger dollar and the Bank of England's split-vote hold.

An original analysis: nearly every major central bank has turned hawkish under the energy shock, yet the dollar hit a two-month high after the Fed's hawkish hold while the yen slid toward intervention territory despite the BOJ's hike to 1% — because FX is a relative game, and the Fed is hawkish from the strongest position.

Canada's April retail sales rose modestly, with core spending weak while the UK posted a stronger May gain, underscoring divergent consumer trends across the two economies.

Markets turned cautious after Vice President JD Vance cancelled a planned Iran trip, prompting a move higher in oil and the U.S. dollar as traders reassessed the durability of the ceasefire and deal process.

The U.S. dollar extended its rise to a more than one-year high after the Federal Reserve kept a hawkish tone, pressuring the Canadian dollar and weighing on the TSX.

Weekly US claims data showed fewer new filings than expected, while continuing claims rose modestly and prior readings were revised slightly higher.

The Federal Reserve left policy unchanged for a fourth straight meeting, but a hawkish message from new Chair Warsh prompted traders to reprice the outlook and pushed the dollar higher.

Asian currencies and the dollar were subdued, European shares were set for a softer start, and gold extended gains as investors watched Iran truce details and awaited the Federal Reserve's decision.

Markets are watching GBP/USD and USD/CHF as traders await the Fed and UK CPI, with dollar sentiment and a tightening technical pattern shaping near-term attention.

Japan’s export growth accelerated in May and April machinery orders also rose, offering signs of external and capital spending resilience even as the monthly trade balance moved back into deficit.

Traders are focused on the Federal Reserve’s upcoming statement, while data from New Zealand, Japan and Australia is expected to play a limited role in Asia trade.

Asian currencies were little changed as hopes for easing Middle East tensions supported sentiment, while the Bank of Japan raised rates to a multi-decade high and attention turned to the Reserve Bank of Australia.

China’s economy softened further in May as retail sales fell for the first time in more than three years, even as industrial output came in above forecasts.

Japanese equities ended higher, with the Nikkei 225 advancing as investors positioned ahead of the Bank of Japan’s policy decision due on 16 June.

Asian currencies firmed and the dollar slipped after reports of a US-Iran peace deal, while markets also watched upcoming central bank meetings and fresh questions over the agreement.

Shiptracking data showed an India-chartered LNG tanker moving through the Strait of Hormuz after a US-Iran agreement, while world leaders welcomed the deal and Europe pointed to sanctions relief.

Global markets held near recent gains as a successful SpaceX IPO and shifting signals around an Iran deal lifted sentiment while pushing Brent to its weakest level in more than two months.