Currency Analysis & Comment

Trump said yesterday that tariffs on Mexico and Canada are still on the table ahead of next Monday’s deadline. Markets remain reluctant to price that in for now, and some soft US consumer confidence...

Germany voted over the weekend, and the results are broadly in line with expectations. The euro (EUR/USD) got a small boost from the CDU/CSU being able to form a coalition only with the SPD, without...

The US dollar has given up all its gains for the week as soft data and US earnings seem to be casting doubts on the notion of US exceptionalism. The USD/JPY is the big winner, receiving extra help...

The standout move in overnight FX markets has been the drop in USD/JPY close to 150 as traders get excited about another hike from the Bank of Japan. Expect USD/JPY to stay offered today before...

Optimism over Ukraine peace talks is offsetting the impact of Trump’s tariff threats, keeping the euro’s downside limited for now. The 1.0400-1.0430 range is acting as support, while 1.0480-1.0500...

Markets continue to carefully assess the implications of Russia-US talks, but we are observing an emerging trend of euro underperformance linked to Trump’s growing isolationism against EU allies....

Should Russia and Ukraine ultimately reach a peace deal, the US dollar is probably due another moderate correction – but for now, markets are lacking tangible bearish USD drivers and we think the...

If Thursday was the 'Big Day' for US reciprocal tariffs, you wouldn't have known it by looking at the global equity rally or the slightly softer US dollar. The benign impact on markets of yesterday's...

The USD/JPY is rising due to increased US bond yields and inflation data. Higher-than-expected CPI has delayed Fed rate cut expectations. Upcoming data, like PPI, may push USD/JPY toward 155.00. Are...

GBP/USD is consolidating around 1.2447 on Wednesday as traders hold back, awaiting key UK economic data releases later this week. Key factors influencing GBP/USD Earlier this week, the British pound...

Latest economic data continues to favor the US dollar Meanwhile,Donald Trump continues aggressive tariff targeting rhetoric Fed in no to rush to raise interest rates, ECB to cut again in its next...

As we await the next tariff news from the Trump administration, it is noticeable that some European currencies are outperforming. The Scandies, in particular, and some parts of the Central and...

The combination of wider interest rate differentials and broadening US tariffs are providing continued support to the US dollar. We can't see that changing this week USD: More Tariffs Are...

The US dollar faces downside risks today as US payrolls should slow and annual benchmark revisions could be significant. That could more than offset some safe-haven flows on the back of souring China...