Forex News

BURNHAM WINS UK BY-ELECTION, PAVING WAY FOR LEADERSHIP BID

Torsten Slok, Apollo Global chief economist, joins 'Power Lunch' to discuss the latest Federal Reserve meeting, the stronger signal for the central bank and much more.

The Middle East conflict and ensuing energy shock lasted longer than we assumed in the early days of March. While it has not upended the global economy, it has shifted growth into a lower gear. Higher energy prices and the prospect of renewed central bank tightening are all contributing to a modestly weaker global outlook (Chart 1). Indeed, the ECB has ...

Japan FinMin Katayama: ready to take strong action on speculative forex moves Katayama says Japan reiterated at G7 meetings that it is prepared to take decisive action when required.

The Office of the United States Trade Representative and Mexico’s Secretariat of Economy held the second round of bilateral negotiations related to the Joint Review of the United States-Mexico-Canada Agreement (USMCA) on June 15-17, 2026, in Washington, D.C. In addition, today U.S. Trade Representative Jamieson Greer and Mexican Secretary of Economy Marcelo ...

The Aussie dollar's ability to hold up following Wednesday's hawkish Fed meeting may seem strange given the accompanying strength in the greenback. But the correlation matrix below offers a clue as to why. The initial decline in AUD/USD made perfect sense. Aussie-US two-year yield spreads narrowed sharply following the Fed, falling from around 40 basis ...

*US STARTS SECTION 301 PROBE OF GERMANY OVER PHARMACEUTICALS USTR Announces Initiation of Section 301 Investigation of Germany’s Persistent Underpayment for Innovative Pharmaceutical Products Today, U.S. Trade Representative Jamieson Greer initiated an investigation under Section 301 of the Trade Act of 1974 against Germany. This investigation will seek to determine whether persistent underpayment for innovative pharmaceutical products by Germany is unreasonable or discriminatory and burdens or restricts U.S. commerce. This investigation follows months of meaningful discussions with our German partners in an effort to resolve this issue. “President Trump has made clear that American patients should not be shouldering a disproportionate share of global pharmaceutical research and development,” said Ambassador Greer. “I am particularly concerned with news that Germany is fast-tracking legislation that would further reduce its spending on innovative pharmaceuticals. This is a serious step backwards at a time when our trading partners need to step up and start paying their fair share to fund innovative pharmaceutical research and development. We believe that the United States and Germany can find a path forward that expands access to the most innovative drugs for the German people while ensuring fair reimbursement for the pharmaceuticals made by American workers." “On April 2, 2026, the United States and the United Kingdom announced a ground-breaking arrangement on pharmaceutical pricing that will help drive investment and innovation in both countries. Germany should follow suit with constructive negotiations to address this imbalance.” “Fighting the war against disease is a shared burden across wealthy nations,” said U.S. Department of Health and Human Services Secretary Robert F. Kennedy, Jr. “The United States is calling on Germany to pay its fair share for the innovative treatments its people use. I commend Ambassador Greer for his leadership in confronting this imbalance. Fair reimbursement strengthens medical innovation and helps ensure the development of the next generation of lifesaving cures.”

BOJ Deputy Gov Himino: Central bank likely to keep hiking rates based on economic, price, financial trends ? BOJ'S HIMINO: BOJ WILL CONSIDER PACE, TIMING OF FURTHER RATE HIKES WITH EYE ON LIKELIHOOD OF ITS BASELINE SCENARIO MATERIALISING, AS WELL AS RISKS BOJ’s Himino: recent price increases not only from temporary supply shock, risk of core inflation straying from target Statement by Himino Ryozo, Deputy Governor of the Bank of Japan, concerning the Bank's Semiannual Report on Currency and Monetary Control Japan's economy has recovered moderately, although some weakness has been seen in part, partly due to the impact of the situation in the Middle East. Exports and industrial production have continued to be more or less flat as a trend. With corporate profits at high levels, business fixed investment has been on a moderate increasing trend. Private consumption has been resilient against the background of an improvement in the employment and income situation, although weakness has been seen in household sentiment. With regard to the outlook, while higher crude oil prices are likely to exert downward pressure on economic activity, Japan's economy is expected to be supported by factors such as high levels of corporate profits. In addition, progress is being made in various government measures and in securing alternative sources of raw materials. Japan's economy is thus expected to continue growing moderately, albeit at a decelerated rate.

The Bank had been conducting money market operations in accordance with the guideline for money market operations decided at the previous meeting on March 18 and 19, 2026.8 The uncollateralized overnight call rate had been in the range of 0.726 to 0.728 percent. Meanwhile, in March 2026, the Bank conducted Japanese government bond (JGB) purchases of about 2.9 trillion yen per month. In April 2026, it cut down the monthly purchase amount by about 200 billion yen, to about 2.7 trillion yen per month; this was in accordance with the JGB reduction plan decided at the June 2025 meeting. In the money market, the uncollateralized overnight call rate had been at around 0.75 percent. The general collateral (GC) repo rate had been at around the same level as the uncollateralized overnight call rate. As for interest rates on term instruments, yields on threemonth treasury discount bills (T-Bills) were more or less unchanged. The Tokyo Stock Price Index (TOPIX) had risen in line with stock prices in the United States and Europe, although the rise was more modest than in those markets, with attention being drawn to factors such as a deterioration in the terms of trade reflecting the rise in crude oil prices. Yields on 10-year JGBs ha BOJ April meeting minutes: many members want more time to assess Middle East impact on Japan’s economy, prices

Japan’s core inflation rate held steady at 1.4% in May, matching expectations and suggesting that underlying price pressures remained contained despite concerns that higher energy costs could push inflation higher. The inflation figure — which excludes prices of fresh food — was in line with the 1.4% expected by economists polled by Reuters and unchanged ...

Prime Minister Mark Carney appears untroubled by U.S. President Donald Trump’s recent claim that the United States would “do better without” the North American free trade pact. Carney says it’s “no secret” Trump “isn’t the biggest fan” of free trade deals, but that doesn’t mean the two countries can’t make progress on trade issues. Trump made the comments ...

Consumer confidence in the United Kingdom showed no change in June, according to a GfK survey conducted for the month. The index remained at negative 23 points, the same level as in May, although slightly above economists' expectations. "The lack of movement in the headline figure is misleading as, beneath the surface, there are new signs that confidence is ...

EXCLUSIVE: On the next episode of The Axios Show, President Trump tells @marcacaputo that in the aftermath of the Iran war, there are "no limits" to his power. pic.twitter.com/QrNPh3wPX1

A hawkish Fed was the icing on the cake for a higher USD/JPY following the latest FOMC meeting. Yields rose alongside the US Dollar Index, which now proudly sits at a 14-month high and just above my 100.50 target. Futures traders were already positioned for a higher USD/JPY, with their gross short exposure to the Japanese yen reaching a record high last ...

This release refers to trade in goods only. In May 2026, compared with May 2025: • Goods exports rose by $1.4 billion (18 percent), to $8.9 billion • Goods imports rose by $1.7 billion (26 percent), to $8.1 billion the monthly trade balance was a surplus of $800 million. charts Goods exports rose by $1.4 billion (18 percent) in May 2026 (to $8.9 billion), ...

Iran's Ghalibaf: Our duty from the supreme leader is to advance the implementation of the agreement's terms and conditions IRAN'S TOP NEGOTIATOR QALIBAF WARNS ANY BREACH OF THE AGREEMENT OR EXCESSIVE DEMANDS WILL MEET A STRONG RESPONSE, VOWING NO HESITATION IN DELIVERING FORCEFUL RETALIATION IF COMMITMENTS ARE BROKEN.

Recent tensions in the Middle East have brought the petrodollar debate back into focus. The immediate market question is whether disruptions to energy trade could accelerate the use of non-dollar currencies in energy-related transactions. That matters because any such shift would add to the broader debate about the global role of the dollar. Still, ...

It came as little surprise that the Bank of England’s MPC voted 7–2 to hold rates steady at 3.75%, particularly in the wake of the Memorandum of Understanding (MoU) between the US and Iran and the resulting plunge in oil prices. The UK’s inflation outlook, and by extension its monetary policy debate, remains outsourced to events in the Middle East (figure ...

Trump: Oil is dropping like a rock

Instead of directing financial markets with its policy moves, Federal Reserve Chairman Kevin Warsh wants the markets to inform the central bank. "Financial market prices are probably the most important source of information to guide central bankers," Warsh said during a press conference on Wednesday. "But when all the financial markets are doing is ...

Institutional money is edging into prediction markets, with a slice of derivatives firms already trading event contracts and many more preparing to follow, according to research firm Acuiti. Nine percent of institutional derivatives participants now trade prediction markets, the firm said, while a further 35% are considering entry. Proprietary trading firms ...

The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for April 2026. The next release, which will report on data for May 2026, is scheduled for July 14, 2026. The sum total in April of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC inflow of $26.1 ...

SPREADS WIDENING ACROSS THE BOARD, POTENTIAL RATE CHECK FROM JAPANESE AUTHORITIES Suspected JPY intervention

The Bank of England held U.K. interest rates at 3.75% on Thursday, as policymakers continue to balance the need to address above-target inflation with lackluster economic output. The hold, which was in-line with the expectations of economists polled by Reuters, was backed by seven of the nine monetary policy committee members in the BOE’s May meeting. BoE ...

Iran's Supreme National Security Council: Based on the MOU with the US, no fees will be charged to ships transiting the Strait of Hormuz for 60 days - State Media. Iran's Supreme National Security Council: The Persian Gulf Strait Authority has been charged with issuing permits as fast as possible.

The number of Americans filing claims for unemployment benefits fell last week, but remained at slightly higher levels, suggesting some moderation in the pace of job growth in June. Economists largely shrugged off the report from the Labor Department on Thursday, with some pointing out that the recent elevation in claims was likely due to seasonal ...

The United States is committed to PEACE, and we encourage everyone in the Middle East Region to maintain their commitment to allowing our negotiations to beautifully unfold. The Markets are loving what is happening with Oil Prices way down, and Stocks way up. We expect a complete Ceasefire on all fronts, including Lebanon, Hezbollah, and Israel. Thank you for your attention to this matter! President DONALD J. TRUMP

Trump says the US would back Israel if it attacks Iran - Israel Channel 14. TRUMP TELLS CHANNEL 14 THE US WOULD ABSOLUTELY BACK ISRAEL IN A STRIKE AGAINST IRAN IF ISRAEL WAS PROVOKED.

Iran's Supreme Leader Khamenei on MOU: I granted permission for it. Iran's Supreme Leader: Future in-person negotiations that are going to take place do not mean accepting the enemy's point of view - Post on X IRAN'S SUPREME LEADER SAYS IF THE AMERICAN SIDE WANTS TO BE TOO DEMANDING, WE WILL NOT ACCEPT IT

The US and Iran have signed a preliminary MoU outlining a ceasefire, some economic concessions and the reopening of the Strait of Hormuz, triggering market relief but marking only the start of negotiations rather than a final deal. Now it’s official. Last night, US President Donald Trump signed the Memorandum of Understanding (MoU) between the US and Iran ...