Forex News

The US dollar continues to see a lot of momentum against the Canadian dollar, as traders are finally trading the differences between the two economies, instead of simple Middle East headlines. The US dollar rallied a bit during the early part of the trading session here on Thursday, and it looks like it is about to break out to the upside against the ...

UK's PM Starmer: I will stand in any leadership contest UK PM Starmer, asked if he should set out an exit timetable: I am carrying out the mandate I was elected on

The Bank of Japan may raise interest rates twice by the end of the current fiscal year, after making a landmark shift in its policy focus toward mounting inflation risk, former board member Makoto Sakurai said on Friday. The central bank justified Tuesday's decision to raise its short-term policy rate to a 31-year high of 1 per cent to forestall the risk of ...

BoJ: Governor Ueda will come into office to work from June 23, continue treatment for about two weeks.

* #ECB CHIEF ECONOMIST LANE SPEAKS IN PARIS - BBG *LANE: ENOUGH COST RISES IN PIPELINE TO KEEP INFLATION ABOVE 3% *ECB'S LANE: HARD TO MAKE CASE THAT WE SHOULDN'T HAVE HIKED *ECB'S LANE: TAKING OUR TIME ON RATES MADE SENSE *ECB'S LANE: EURO-ZONE ECONOMY HAS STEADY MOMENTUM

The dollar’s momentum remained strong for a full session after Wednesday’s hawkish surprise. Overnight, DXY tested levels above 101.00, on track to have its best week since April 2024. We aren’t at all convinced this is the start of a broader USD appreciation cycle. The US-Iran peace deal removes a bullish argument for the dollar, and our macro team still ...

The Australian and New Zealand dollars were on the defensive on Friday as mounting wagers on US rate hikes boosted the greenback broadly, sending the kiwi to three-month lows. A hawkish swerve from the Federal Reserve has seen markets price in 38 basis points of tightening this year and shrunk the Antipodeans’ yield premium over Treasuries. That left the ...

REUTERS REPORT IRAN'S REVOLUTIONARY GUARDS SET UP SECRETIVE CELLS IN IRAQ TO CONDUCT DRONE ATTACKS ON KUWAIT, SAUDI ARABIA, UAE, SOURCES SAY (EXCLUSIVE) REUTERS

Borrowing - the difference between total public sector spending and income - was £23.3 billion in May 2026; this was £5.4 billion (30.4%) more than in May 2025, and £5.6 billion more than the £17.7 billion forecast by the Office for Budget Responsibility (OBR). Central government debt interest payable was £11.7 billion in May 2026; this was £4.1 billion ...

The quantity of goods bought (volume) in retail sales is estimated to have risen by 0.4% in the three months to May 2026 compared with the three months to February 2026. Non-food stores’ sales volumes rose, with department stores performing well in May because of the good weather. Also within non-food stores, computer and telecoms retailers continued to ...

The producer prices of industrial products were 2.2% higher in May 2026 than in May 2025. A larger year-on-year increase was last recorded in May 2023 (+2.5% on May 2022). The Federal Statistical Office (Destatis) also reports that producer prices in May 2026 were up 0.3% on April 2026.The increase in producer prices compared with the same month of the ...

ISRAEL STRIKES SOUTHERN LEBANON OVERNIGHT AS INTENSE FIGHTING CONTINUES; US-IRAN TALKS IN SWITZERLAND POSTPONED

The Israeli military said it hit Hezbollah targets across southern Lebanon overnight, with attacks still ongoing.

Bank of Japan Deputy Governor Himino used a Friday appearance to reinforce the bank's hiking bias while delivering a pointed message on the yen that markets would have been unwise to miss. The core message on rates was consistent with post-June meeting guidance: the BoJ expects to keep raising, with pace and timing calibrated against the evolving baseline ...

Perhaps the French had a twisted, cynical sense of humour when setting up Trump to sign the MOU with Iran at the Palace of Versailles this past week. Unlike June 1919, this MOU is a gift to an undefeated regime, but the future outcome could be similar. Many came to view the Treaty of Versailles as overly punitive and extractive in setting up WWII, but among ...

Japanese Finance Minister Satsuki Katayama is increasingly finding herself in an unenviable position on the foreign-exchange front. After deploying over 11.7 trillion yen ($72.8 billion) in foreign reserves to prop up the currency from April to May and the Bank of Japan raising policy rates to a more than three-decade high, the yen still languishes at the ...

The White House said Thursday night that Vice President JD Vance was delaying a trip to Switzerland, where he’d been set to lead a new round of negotiations with Iran over its nuclear program — raising questions about what’s next for the tentative agreement to end the war. The team led by Vance had been ready to leave but was postponing, the White House ...

BURNHAM WINS UK BY-ELECTION, PAVING WAY FOR LEADERSHIP BID

Torsten Slok, Apollo Global chief economist, joins 'Power Lunch' to discuss the latest Federal Reserve meeting, the stronger signal for the central bank and much more.

The Middle East conflict and ensuing energy shock lasted longer than we assumed in the early days of March. While it has not upended the global economy, it has shifted growth into a lower gear. Higher energy prices and the prospect of renewed central bank tightening are all contributing to a modestly weaker global outlook (Chart 1). Indeed, the ECB has ...

Japan FinMin Katayama: ready to take strong action on speculative forex moves Katayama says Japan reiterated at G7 meetings that it is prepared to take decisive action when required.

The Office of the United States Trade Representative and Mexico’s Secretariat of Economy held the second round of bilateral negotiations related to the Joint Review of the United States-Mexico-Canada Agreement (USMCA) on June 15-17, 2026, in Washington, D.C. In addition, today U.S. Trade Representative Jamieson Greer and Mexican Secretary of Economy Marcelo ...

The Aussie dollar's ability to hold up following Wednesday's hawkish Fed meeting may seem strange given the accompanying strength in the greenback. But the correlation matrix below offers a clue as to why. The initial decline in AUD/USD made perfect sense. Aussie-US two-year yield spreads narrowed sharply following the Fed, falling from around 40 basis ...

*US STARTS SECTION 301 PROBE OF GERMANY OVER PHARMACEUTICALS USTR Announces Initiation of Section 301 Investigation of Germany’s Persistent Underpayment for Innovative Pharmaceutical Products Today, U.S. Trade Representative Jamieson Greer initiated an investigation under Section 301 of the Trade Act of 1974 against Germany. This investigation will seek to determine whether persistent underpayment for innovative pharmaceutical products by Germany is unreasonable or discriminatory and burdens or restricts U.S. commerce. This investigation follows months of meaningful discussions with our German partners in an effort to resolve this issue. “President Trump has made clear that American patients should not be shouldering a disproportionate share of global pharmaceutical research and development,” said Ambassador Greer. “I am particularly concerned with news that Germany is fast-tracking legislation that would further reduce its spending on innovative pharmaceuticals. This is a serious step backwards at a time when our trading partners need to step up and start paying their fair share to fund innovative pharmaceutical research and development. We believe that the United States and Germany can find a path forward that expands access to the most innovative drugs for the German people while ensuring fair reimbursement for the pharmaceuticals made by American workers." “On April 2, 2026, the United States and the United Kingdom announced a ground-breaking arrangement on pharmaceutical pricing that will help drive investment and innovation in both countries. Germany should follow suit with constructive negotiations to address this imbalance.” “Fighting the war against disease is a shared burden across wealthy nations,” said U.S. Department of Health and Human Services Secretary Robert F. Kennedy, Jr. “The United States is calling on Germany to pay its fair share for the innovative treatments its people use. I commend Ambassador Greer for his leadership in confronting this imbalance. Fair reimbursement strengthens medical innovation and helps ensure the development of the next generation of lifesaving cures.”

BOJ Deputy Gov Himino: Central bank likely to keep hiking rates based on economic, price, financial trends ? BOJ'S HIMINO: BOJ WILL CONSIDER PACE, TIMING OF FURTHER RATE HIKES WITH EYE ON LIKELIHOOD OF ITS BASELINE SCENARIO MATERIALISING, AS WELL AS RISKS BOJ’s Himino: recent price increases not only from temporary supply shock, risk of core inflation straying from target Statement by Himino Ryozo, Deputy Governor of the Bank of Japan, concerning the Bank's Semiannual Report on Currency and Monetary Control Japan's economy has recovered moderately, although some weakness has been seen in part, partly due to the impact of the situation in the Middle East. Exports and industrial production have continued to be more or less flat as a trend. With corporate profits at high levels, business fixed investment has been on a moderate increasing trend. Private consumption has been resilient against the background of an improvement in the employment and income situation, although weakness has been seen in household sentiment. With regard to the outlook, while higher crude oil prices are likely to exert downward pressure on economic activity, Japan's economy is expected to be supported by factors such as high levels of corporate profits. In addition, progress is being made in various government measures and in securing alternative sources of raw materials. Japan's economy is thus expected to continue growing moderately, albeit at a decelerated rate.

The Bank had been conducting money market operations in accordance with the guideline for money market operations decided at the previous meeting on March 18 and 19, 2026.8 The uncollateralized overnight call rate had been in the range of 0.726 to 0.728 percent. Meanwhile, in March 2026, the Bank conducted Japanese government bond (JGB) purchases of about 2.9 trillion yen per month. In April 2026, it cut down the monthly purchase amount by about 200 billion yen, to about 2.7 trillion yen per month; this was in accordance with the JGB reduction plan decided at the June 2025 meeting. In the money market, the uncollateralized overnight call rate had been at around 0.75 percent. The general collateral (GC) repo rate had been at around the same level as the uncollateralized overnight call rate. As for interest rates on term instruments, yields on threemonth treasury discount bills (T-Bills) were more or less unchanged. The Tokyo Stock Price Index (TOPIX) had risen in line with stock prices in the United States and Europe, although the rise was more modest than in those markets, with attention being drawn to factors such as a deterioration in the terms of trade reflecting the rise in crude oil prices. Yields on 10-year JGBs ha BOJ April meeting minutes: many members want more time to assess Middle East impact on Japan’s economy, prices

Japan’s core inflation rate held steady at 1.4% in May, matching expectations and suggesting that underlying price pressures remained contained despite concerns that higher energy costs could push inflation higher. The inflation figure — which excludes prices of fresh food — was in line with the 1.4% expected by economists polled by Reuters and unchanged ...

Prime Minister Mark Carney appears untroubled by U.S. President Donald Trump’s recent claim that the United States would “do better without” the North American free trade pact. Carney says it’s “no secret” Trump “isn’t the biggest fan” of free trade deals, but that doesn’t mean the two countries can’t make progress on trade issues. Trump made the comments ...

Consumer confidence in the United Kingdom showed no change in June, according to a GfK survey conducted for the month. The index remained at negative 23 points, the same level as in May, although slightly above economists' expectations. "The lack of movement in the headline figure is misleading as, beneath the surface, there are new signs that confidence is ...

EXCLUSIVE: On the next episode of The Axios Show, President Trump tells @marcacaputo that in the aftermath of the Iran war, there are "no limits" to his power. pic.twitter.com/QrNPh3wPX1