U.S. Treasury and Eurozone bond yields remained elevated as escalating military tensions in the Middle East sparked a surge in oil prices, fueling investor concerns over a new wave of inflation.
Analysts at UBS project the EUR/NOK exchange rate will steadily decline over the next year, citing a supportive external environment and attractive carry despite recent krone weakness.
UBS maintains a favorable view on the New Zealand dollar after the nation's central bank raised interest rates for the first time in three years, recommending a short position against the Australian dollar.
According to Deutsche Bank, interest rate differentials and carry trades are the dominant force in foreign exchange markets this year, overriding geopolitical and other major market events.
The U.S. dollar declined Thursday as traders assessed Federal Reserve minutes that revealed a split among policymakers on interest rates, while falling crude oil prices helped temper inflation fears.
Government bond yields in the U.S. and Europe held steady on Friday, pausing after a sharp two-day spike driven by fears that renewed U.S.-Iran military conflict could reignite energy-driven inflation.
The South African rand strengthened against the U.S. dollar, buoyed by a more than 1% rise in gold prices. The currency's advance came despite new data showing a sharper-than-expected contraction in the nation's manufacturing output.
TrueDAO, a decentralized finance infrastructure project, has raised $10 million in a strategic funding round led by Brevan Howard Digital to advance its AI-powered protocol for risk management and liquidity.
The crypto trading infrastructure firm announced its MERC token white paper has been added to the ESMA register, fulfilling a key disclosure requirement of the EU's Markets in Crypto-Assets (MiCA) regulation.
