Daily Newsroom
Follow market-moving stories, policy signals, and company developments curated by the editorial desk.
Lead story
The U.S. dollar held steady on Monday, following its largest single-day drop since late April, as investors await further signals on monetary policy from the Federal Reserve. The Japanese yen remained near a 40-year low, raising concerns about potential government intervention.
The Japanese yen weakened on Tuesday, trading near a multi-decade low against the U.S. dollar as traders test the resolve of Japanese authorities to intervene. The currency's decline comes amid speculation about Tokyo's strategy and a broader weakening of the U.S. dollar.
The Bank of Israel has reduced its benchmark interest rate for the second consecutive time, bringing it down to 3.50% in a move to address the persistent strength of the national currency, the shekel. The decision, which was widely anticipated, brings borrowing costs to their lowest level since late 2022.
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.
