The Japanese Yen (JPY) started the new week on a weaker note, dropping to its lowest level since May 15 against the broadly stronger US Dollar (USD) during the Asian session. The Bank of Japan (BOJ) last week signaled its preference to move cautiously in normalizing its still-loose monetary policy, forcing investors to scale back their expectations about the likely timing of the next interest rate hike. In addition, concerns that the US tariffs of 25% on Japanese vehicles and a reciprocal levies of 24% on other imports will impact the Japanese economy turned out to be another factor that...
USD/CHF moved lower after posting gains in the previous session, trading around 0.8170 during Asian hours on Monday (6/23). The currency pair depreciated as the Swiss Franc (CHF) gained support from rising safe-haven demand, which was driven by the United States' (US) attack on three Iranian nuclear facilities over the weekend. US President Donald Trump announced late Saturday that he had "obliterated" Iran's key nuclear sites, including Fordow, Natanz and Isfahan, in overnight strikes, coordinated with Israeli strikes. The Middle East conflict is set to escalate as Tehran vows to defend...
The Australian dollar (AUD) depreciated against the US dollar (USD) on Monday (6/23), extending its losses for the third straight session. The AUD/USD pair remained weaker amid weaker risk sentiment, driven by escalating Middle East tensions. US President Donald Trump announced late Saturday that he had "obliterated" three Iranian nuclear facilities, including Fordow, Natanz, and Isfahan, in overnight strikes, coordinated with Israeli strikes. Iran's parliament approved the move to close the strait. Iran has threatened to close the strait in the past but has never followed through,...
Silver (XAG/USD) prices moved higher near $36.10, ending a three-day losing streak during Asian trading hours on Monday (6/23). The white metal attracted some buyers amid heightened tensions in the Middle East after the US bombed Iranian nuclear sites. The United States carried out airstrikes on three nuclear sites in Iran on Sunday morning despite US President Donald Trump's long-standing vows to avoid any new foreign conflict. Iran has vowed to respond, saying it is "keeping all options on the table," while Trump said that any Iranian retaliation against the United States "will be met...
Gold prices edged lower on Monday as investors preferred the dollar following a U.S. attack on Iran's main nuclear site over the weekend, with markets looking to Iran for a response. Spot gold was down 0.2% at $3,362.29 an ounce, as of 0341 GMT. U.S. gold futures were down 0.2% at $3,378. "The U.S. attack on Iran's nuclear facilities has seen the dollar receive safe-haven buying in the currency market," said Tim Waterer, chief market analyst at KCM Trade. "The rise in the dollar has pegged gold back and led to an unusually weak performance by the precious metal despite the risks emanating...