The dollar edged lower against most Group-of-10 peers after Federal Reserve Governor Christopher Waller said the central bank should cut rates at its next meeting. Bloomberg Dollar Spot Index slipped 0.1%, while the yield on 2-year Treasuries fell two basis points to 3.88% With limited risk to price pressures and inflation within target, the Fed shouldn't wait until the labor market deteriorates before it cuts, Waller said in the text of a speech. "I believe it makes sense to cut the FOMC's policy rate by 25 basis points two weeks from now" NOTE: Traders are pricing effectively...
The Australian dollar strengthened to around $0.651 on Friday, recouping some losses in the previous session, as a surge in iron ore prices, driven by renewed optimism over Chinese economic support, lifted demand for the commodity-linked currency. The rally in iron ore came as China's June import volumes hit a 2025 high, reflecting strong restocking demand and expectations of further policy support for infrastructure and property. Traders grew more optimistic after Chinese authorities signaled fresh stimulus measures, including targeted credit easing and fiscal aid to boost construction...
Oil prices were little changed on Friday after rising in the previous session as concerns drone attacks on northern Iraqi oil fields will cut supply vied with worries of potential demand declines amid uncertainty in U.S. tariff policy. Brent crude futures eased 4 cents, or 0.06%, to $69.48 a barrel as of 0239 GMT, U.S. West Texas Intermediate crude futures edged down 3 cents, or 0.04%, to $67.51 a barrel. Four days of drone attacks on oil fields in Iraqi Kurdistan that shut down half of the region's output have supported prices, pushing both contracts up $1 on Thursday. Additionally,...