The Swiss Franc (CHF) slides to its weakest level in more than ten months on Wednesday as hawkish Federal Reserve (Fed) outlook boosts the US Dollar (USD). At the time of writing, USD/CHF trades around 0.8126, extending its gains for a sixth consecutive day.
The Japanese Yen (JPY) registers minimal losses against the US Dollar (USD) on Wednesday amid mixed risk appetite, with global equities fluctuating between gains and losses, while investors continue to monitor developments in the Middle East.
Scotiabank strategists Shaun Osborne and Eric Theoret report the British Pound (GBP) is softer against the US Dollar (USD) but relatively resilient versus G10 peers, with declines tied to shifting Fed expectations and softening United Kingdom (UK) yields after moderating inflation and a weak service
EUR/USD extends its decline on Wednesday and trades around 1.1340 at the time of writing, down 0.39% on the day, as the US Dollar (USD) benefits from renewed support driven by expectations of additional monetary tightening in the United States (US).
ABN AMRO economists Bill Diviney and Larissa de Barros Fritz assess the economic and market implications of UK Prime Minister Starmer’s resignation and the likely succession of Andy Burnham.
The AUD/USD pair remained under pressure, trading at 0.6890 near a three-month low on Wednesday as investors assessed Australia’s latest inflation figures and now focus on the upcoming United States (US) Personal Consumption Expenditures Price Index (PCE), the Federal Reserve’s preferred inflation g
Commerzbank’s Dr. Ralph Solveen notes that Germany’s Ifo Business Climate Index rose slightly in June, mainly on a better assessment of current conditions rather than expectations.
Gold (XAU/USD) falls on Wednesday, hitting a fresh seven-month low as hawkish Federal Reserve (Fed) expectations and a stronger US Dollar (USD) keep the precious metal under pressure.
Scotiabank strategists Shaun Osborne and Eric Theoret highlight renewed Euro (EUR) weakness versus the Dollar (USD), driven by widening negative Eurozone–US yield spreads and a hawkish repricing of Fed expectations while European Central Bank (ECB) views stay steady.
West Texas Intermediate (WTI) US Oil extends its sharp decline on Wednesday, trading around $69.70, down 4.40% on the day at the time of writing and hitting its lowest level since March 2.
ING’s Francesco Pesole says AUD/USD remains under pressure from the tech-led equity sell-off, given the Australian Dollar’s high correlation with semiconductor stocks. Domestically, hotter core inflation should keep Reserve Bank of Australia communication hawkish, even without further hikes.
GBP/JPY trades on the back foot on Wednesday as the Japanese Yen (JPY) outperforms its major peers following hawkish signals from the Bank of Japan (BoJ). At the time of writing, the cross is trading around 212.90, down 0.20%.
BNY’s Geoff Yu observes that recent US Dollar (USD) strength reflects United States (US) exceptionalism rather than fresh cross-border buying, as underweights have already been reduced.
Scotiabank strategists Shaun Osborne and Eric Theoret note USD/CAD continues its grind higher, with the Canadian Dollar (CAD) in a near straight-line decline since early May as wider US–Canada yield spreads drive weakness.
TD Securities’ Ryan McKay and Bart Melek highlight ongoing selling pressure in WTI Crude as CTA liquidation nears completion while high crude flows through the Strait of Hormuz keep sentiment bearish.
Societe Generale analysts note that EUR/USD has traded mostly between 1.14 and 1.20 over the past year, with low volatility magnifying even small breakouts.
Lloyd Chan at MUFG views Singapore Dollar (SGD) as relatively defensive versus other ASEAN currencies thanks to Monetary Authority of Singapore's (MAS) tight Singapore Dollar Nominal Effective Exchange Rate (S$NEER) policy, which anchors volatility and inflation expectations.
ING’s Warren Patterson and Ewa Manthey report that Aluminium led a broad metals sell-off triggered by a sharp global equity decline and a more hawkish Federal Reserve outlook.
Silver (XAG/USD) drops to fresh year-to-date lows on Wednesday as hawkish Federal Reserve (Fed) expectations and a stronger US Dollar (USD) keep sellers firmly in control. At the time of writing, XAG/USD trades around $59.39, its lowest level since December 2025.
TD Securities strategists note that Australia’s May headline CPI slowed to 4.0% year-on-year, below consensus and their own forecast, largely on softer transport and fuel costs.
The Japanese Yen (JPY) remains on its back foot against a stronger US Dollar (USD) on Wednesday, with the USD/JPY pair approaching 40-year highs at 161.95 again. The wide differential between the Bank of Japan's (BoJ) interest rates and those of the world's major central banks is keeping the Japane
Standard Chartered’s Dan Pan expects Brazil’s central bank, Banco Central do Brasil (BCB) to deliver a more gradual easing cycle as inflation dynamics remain challenging.
USD/CAD trades higher around 1.4230 on Wednesday after earlier reaching a more-than-one-year high at 1.4239.
MUFG’s Lloyd Chan notes that Indonesian Rupiah (IDR) has been supported by Bank Indonesia’s proactive tightening and FX measures, but elevated US yields and domestic policy uncertainty are testing this buffer.
ING’s Commodities Strategist Ewa Manthey notes that Gold has sold off sharply after record highs, pressured by higher Treasury yields, a stronger Dollar and weaker ETF demand.
The British Pound (GBP) trades 0.38% lower at around 1.3150 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair faces intense selling pressure as the US Dollar outperforms due to hawkish Federal Reserve (Fed) bets.
DBS Group Research’s Philip Wee notes that the US Dollar (USD) has strengthened, with the US Dollar Index (DXY) at its highest since May 2025 after a hawkish Federal Open Market Committee (FOMC).
ING’s Francesco Pesole highlights that EUR/USD has been pressured by an equity sell-off and weak German PMIs, reinforcing a US-EU growth divergence narrative. He notes a wider EUR:USD two-year swap differential and a renewed Dollar risk premium.
Gold (XAU/USD) extends losses for the second consecutive day on Wednesday as the US Dollar Index (DXY) surges to 13-month highs near 102.00. The precious metal has breached the 4,100 line and is heading to retest Year-to-date lows, at $4,023, and probably also the $4,000 psychological level.
The comments from Swiss National Bank (SNB) policymaker Petra Tschudin released during the European trading session on Wednesday indicate that medium-term inflation pressures remain unchanged and the central bank is ready to intervene in the FX market if necessary.
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