The Australian dollar weakened to around $0.647 on Tuesday, reversing sharp gains from the previous session, after Australia's central bank revealed it had considered an outsized rate cut last month. During its May policy meeting, the central bank signaled that policymakers had considered a bold 50 bps cut as a form of "insurance" against mounting global trade risks but ultimately opted for a more cautious 25 bps reduction. Still, markets are now pricing in roughly a 70% chance of another rate cut at the next RBA meeting, although many analysts expect the central bank to wait for Q2...
The Japanese yen weakened past 143 per dollar on Tuesday, snapping a three-day winning streak, even as Bank of Japan Governor Kazuo Ueda signaled a willingness to raise interest rates if economic and price momentum picks up. Ueda emphasized that Japan's economy is undergoing a moderate recovery, supported by solid business sentiment and improving corporate profits, despite some pockets of weakness. The currency also came under external pressure as the US dollar rebounded, with markets largely shrugging off weak US economic data and renewed global trade tensions. President Donald Trump's...
EUR/USD edges lower after registering over 0.50% gains in the previous session, trading around 1.1420 during the Asian hours on Tuesday. The US Dollar (USD) recovers its ground on technical correction, despite growing concerns regarding stagflation in the United States (US). Traders will likely observe Eurozone Harmonized Index of Consumer Prices (HICP) data scheduled to be released on Tuesday. Focus will shift toward the release of the JOLTS Job Openings later in the North American session. US President Donald Trump threatened on Friday to double import tariffs on steel and aluminium,...