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View the daily news commentary to obtain insight on the financial markets.

WH Economic Adviser Hassett: No reason for Fed to not cut rates now

June 23, 2025, 1:03:52 PM UTC
Kevin Hassett, Director of the United States (US) National Economic Council (NEC), said on Monday that there is no reason for the Federal Reserve to not cut rates now.
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Indian Rupee weakens amid US–Iran conflict, but strong PMI and moderating Oil price offer support

June 23, 2025, 12:58:57 PM UTC
The Indian Rupee (INR) kicked off the week on a softer note, weakening against the US Dollar (USD) on Monday as investors flocked to the Greenback after the United States (US) launched airstrikes targeting Iranian nuclear facilities over the weekend.
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USD: Safe-haven sentiment is pulling the strings – Rabobank

June 23, 2025, 12:19:40 PM UTC
The direction of oil prices this morning reflects the market’s cumulative view on what it deems to be the current level of risk regarding the Middle East crisis.  Brent oil spiked higher at the open only to fall back to below levels traded towards the end of last week.
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Gold pulls back as market digests US strikes on Iran, Strait of Hormuz risks linger

June 23, 2025, 12:11:28 PM UTC
Gold (XAU/USD) is trading in a tight range on Monday after the United States (US) carried out coordinated strikes on Iran’s nuclear infrastructure over the weekend.
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Mexico Retail Sales (YoY) dipped from previous 4.3% to -2% in April

June 23, 2025, 12:00:42 PM UTC
Mexico Retail Sales (YoY) dipped from previous 4.3% to -2% in April
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Mexico Retail Sales (MoM) declined to -1% in April from previous 0.5%

June 23, 2025, 12:00:08 PM UTC
Mexico Retail Sales (MoM) declined to -1% in April from previous 0.5%
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JPY is unexpectedly underperforming on the day – Scotiabank

June 23, 2025, 11:59:40 AM UTC
The Japanese Yen (JPY) is weak, down a sizeable 1.2% vs. the US Dollar (USD) and hitting fresh local lows while threatening a push to levels last seen in early April, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.
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GBP a mid-performer vs. G10 – Scotiabank

June 23, 2025, 11:56:05 AM UTC
Pound Sterling (GBP) is weak and down 0.5% against the US Dollar (USD), a mid-performer among the G10 in an environment of broad-based USD strength, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.
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EUR soft, a mid-performer – Scotiabank

June 23, 2025, 11:53:40 AM UTC
The Euro (EUR) is weak, down 0.5% against the US Dollar (USD) and a mid-performer among the G10 in an environment of broad-based USD strength, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.
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Pound Sterling declines against US Dollar as Greenback gains of US-Iran tensions

June 23, 2025, 11:51:57 AM UTC
The Pound Sterling (GBP) slumps to near 1.3370 against the US Dollar (USD) during European trading hours on Monday. The GBP/USD pair weakens as investors rush to safe-haven assets, following the escalation of tensions between the United States (US) and Iran.
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CAD strays further from fair value – Scotiabank

June 23, 2025, 11:50:27 AM UTC
The Canadian Dollar (CAD) ended last week on a soft note amid rising geo-political tensions and has eased a little further over the weekend to trade back to near 1.38, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.
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EUR/USD hovers near recent lows with the Dollar buoyed ahead of US PMI figures

June 23, 2025, 11:49:55 AM UTC
The EUR/USD has failed to return above the 1.1500 level on Monday and has turned lower, to reach levels right above the last two weeks' lows, at 1.1450.
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EUR/GBP Price Forecast: Refreshes two-month high near 0.8575

June 23, 2025, 11:46:58 AM UTC
The EUR/GBP pair posts a fresh two-month high near 0.8575 during European trading hours on Monday. The cross trades broadly stable after the release of the preliminary United Kingdom (UK)/Eurozone Purchasing Managers’ Index (PMI data for June.
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USD firmer following US attack on Iran – Scotiabank

June 23, 2025, 11:46:02 AM UTC
US Dollar (USD) bearishness subsided a little last week, helped by the mildly hawkish outcome of the FOMC, and has receded further this morning as markets react to the US attack on Iran’s nuclear facilities and concerns over potential Iranian responses, Scotiabank's Chief FX Strategists Shaun Osborn
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WTI Oil returns to levels above $74.50 as Middle East tensions remain high

June 23, 2025, 11:42:43 AM UTC
Crude Oil retreated from five-month highs at the $7750 area in the early Asian session, but downside attempts have been capped right above $73.00.
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USD/CHF is struggling to return above 0.8200 despite the overall Dollar strength

June 23, 2025, 11:05:03 AM UTC
The US Dollar is trading with moderate gains against the Swiss Franc on Monday, but remains trapped within the last few days' trading range, as the 0.8200 level keeps holding bulls for now.The Greenback is appreciating against most of its main peers, but is failing to perform any significant advance
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Japanese Yen weakens to five-week low as US strikes on Iran lift US Dollar safe-haven appeal

June 23, 2025, 10:53:44 AM UTC
The Japanese Yen (JPY) kicks off the week under pressure, stretching its losing streak to a third consecutive day against the US Dollar (USD) on Monday.
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AUD/USD drops toward range support – Société Générale

June 23, 2025, 10:49:36 AM UTC
AUD/USD is under pressure after failing to break resistance at 0.6545, with the pair now testing key support levels that could determine the next leg of its trend, Société Générale's FX analysts note.
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Brent tests channel top after strong rally – Société Générale

June 23, 2025, 10:42:53 AM UTC
Brent crude’s steep rally faces a key technical test as prices approach major resistance levels, with stretched momentum suggesting a possible near-term pullback, Société Générale's FX analysts note.
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Gold Price Forecast: XAU/USD holds key 20-day EMA above $3,350, US-Iran tensions escalate

June 23, 2025, 10:33:42 AM UTC
Gold price (XAU/USD) exhibits a sluggish performance above $3,350 during European trading hours on Monday.
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Trump threatens Powell with dismissal again – Commerzbank

June 23, 2025, 10:32:30 AM UTC
It came as no surprise that Fed Chair Jay Powell would draw the wrath of the US president with the FOMC's decision to leave interest rates unchanged once again – nor did the increasing rudeness displayed by the US president come as a surprise.
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USD/CNH: Expected to trade in a 7.1750/7.1950 range – UOB Group

June 23, 2025, 10:23:27 AM UTC
US Dollar (USD) is expected to trade in a 7.1750/7.1950 range. In the longer run, USD has likely moved into a 7.1620/7.2200 range trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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US Dollar Index (DXY) hits three-week highs at 99.40 buoyed by risk aversion

June 23, 2025, 10:21:25 AM UTC
The Dollar has reclaimn¡med its traditional safe-haven status, with investors rushing away from risk on concerns about the possibility of a wider conflict in the Middle East after this weekend’s attack on Iran’s nuclear sites. The US Dollar is the strongest of the G8 currencies on Monday.
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Oil price shock and the US Dollar – Commerzbank

June 23, 2025, 10:08:22 AM UTC
US President Trump had signalled it, and now it has happened. The US government has joined in on Israel's attacks on Iran and, according to reports, destroyed important nuclear facilities.
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AUD/USD: A move 0.6355 is very much possible – UOB Group

June 23, 2025, 9:54:01 AM UTC
A move to 0.6355 in the AUD/USD pair can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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USD/INR struggles to gain further on upbeat India's HSBC PMI, retreating Oil price

June 23, 2025, 9:53:08 AM UTC
The Indian Rupee (INR) gains ground after sliding to near 86.90 against the US Dollar (USD) during the European trading session on Monday.
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USD bounce looks small so far – ING

June 23, 2025, 9:49:40 AM UTC
Here are a few initial considerations on the FX reaction to this weekend’s US strikes in Iran, with the caveat that this is a fast-developing situation. First, the dollar bounce looks small so far, especially considering its oversold and undervalued position.
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USD/JPY: Eyes on 148.50 – OCBC

June 23, 2025, 9:42:47 AM UTC
USD/JPY jumped in response to geopolitical escalation in the Middle East. USD/JPY was last at 147.82 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
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GBP/USD: Downward momentum is beginning to build – UOB Group

June 23, 2025, 9:39:07 AM UTC
Pound Sterling (GBP) may retest the 1.3385 level; a sustained break below this level seems unlikely for now. In the longer run, downward momentum is beginning to build; it may take a while before 1.3335 comes into view, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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DXY: Mild bullish momentum intact – OCBC

June 23, 2025, 9:36:16 AM UTC
US Dollar (USD) rose in early trade, with impact more pronounced on Asian FX than DM FX. US joining Israel on attack in Iran risks a deeper conflict in the Middle East. DXY was last seen trading at 99.41 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
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