Daily Newsroom
Follow market-moving stories, policy signals, and company developments curated by the editorial desk.
Lead story
The South African rand held steady against the U.S. dollar on Monday as investors look to the upcoming release of Federal Reserve minutes for guidance on interest rates. The currency's movement is being driven by global factors amid a light week for domestic economic data.
A top South Korean finance official stated the country is in close communication with Japan and other allies regarding foreign exchange issues. The announcement comes as the South Korean won continues to trade near a 17-year low against the U.S. dollar.
The British pound reached a two-week high against the U.S. dollar on Thursday, as the greenback softened following recent comments from the new Federal Reserve Chair. Markets are now focused on the upcoming U.S. jobs report for further direction.
Analysts at Citi have noted a significant technical break in the EUR/GBP currency pair, forecasting a potential decline toward the 0.8450-0.85 range. The bearish outlook comes as the pair dropped below the key 0.86 level.
The United States has resumed air shipments of U.S. dollars to Iraq several months after they were suspended, according to a New York Times report citing aides to the Iraqi prime minister. The initial halt was intended to pressure Baghdad over the actions of Iran-backed militias.
Italy's Treasury has mandated a group of international banks to manage an upcoming sale of U.S. dollar-denominated bonds. The offering will be structured in three parts with maturities in 2031, 2036, and 2056.
According to an analysis by UBS, the Monetary Authority of Singapore is expected to keep its policy settings unchanged in its upcoming July meeting but will likely tighten in October as inflation picks up. The bank has also maintained its medium-term forecasts for the USD/SGD exchange rate.
The British pound traded near its strongest level since mid-June on Tuesday, as the U.S. dollar remained in a narrow range ahead of the release of Federal Reserve meeting minutes.
Several major currency pairs, including EUR/USD and USD/JPY, are facing the expiration of options contracts worth billions of dollars on Wednesday. This event could potentially influence price movements around the specified strike prices.
