The Japanese yen rose toward 148 per dollar on Monday, recovering some of last week's losses after the ruling coalition lost its majority in the weekend's upper house election, bringing a new wave of political uncertainty. Prime Minister Shigeru Ishiba now faces the challenge of working with the opposition, marking the first time since 1955 that the governing party has failed to hold a majority in at least one chamber of the legislature. The opposition is expected to advocate for increased government spending and tax cuts, moves that could pressure the yen and push Japanese government bond...
The GBP/USD pair kicks off the new week on a subdued note and oscillates in a narrow band, just above the 1.3400 round figure during the Asian session. Meanwhile, spot prices remain well within striking distance of a nearly two-month low touched last week. The US Dollar (USD) remains on the back foot below the monthly peak touched last Thursday amid mixed signals about the Federal Reserve's (Fed) rate-cut path, which, in turn, is seen acting as a tailwind for the GBP/USD pair. In fact, Fed Governor Christopher Waller last week backed the case for a rate cut in July. Investors, however,...
The US dollar index hovered around 98.4 on Monday, holding steady after two consecutive weeks of gains, as markets focused on key trade and economic developments. Commerce Secretary Howard Lutnick reaffirmed that August 1 is a "hard deadline" for countries to begin paying tariffs, though he emphasized that negotiations will continue until then. Traders also awaited the June reading of leading indicators, which offer insight into the broader economic outlook. On the policy front, Federal Reserve Governor Christopher Waller reiterated support for a rate cut in July, pointing to a weakening...