The US Dollar Index (DXY) whipsawed on Wednesday after the Federal Reserve's (Fed) Federal Open Market Committee (FOMC) kept interest rates unchanged, as investors had broadly expected.
Gold price holds firm near $3,390 as the Federal Reserve decided to hold rates unchanged at the June 18 meeting. The Summary of Economic Projections (SEP) reveals that officials are still eyeing 50 basis points of easing in 2025.
EUR/USD whipsawed on Wednesday after the Federal Reserve's (Fed) Federal Open Market Committee (FOMC) kept interest rates unchanged, as investors had broadly expected.
The British Pound (GBP) extends its decline for the second consecutive day against the Japanese Yen (JPY) on Wednesday, as cautious sentiment dominates the market ahead of the Bank of England’s (BoE) key interest rate verdict due on Thursday.
The Dow Jones Industrial Average (DJIA) is mostly flat on Wednesday, with equity markets holding steady after the Federal Reserve (Fed) hit the mark and kept interest rates on holds as most investors expected.
The Australian Dollar (AUD) is gaining ground against the US Dollar (USD) on Wednesday, supported by a softer Greenback as market participants await the outcome of the Federal Reserve’s (Fed) policy decision.
The Euro (EUR) extends its decline against the Japanese Yen (JPY) for the second consecutive day on Wednesday, retreating further after briefly touching a year-to-date peak of 167.62 on Tuesday.
Silver (XAG/USD) is trading lower on Wednesday, pulling back from multi-year highs after a sharp rally in June that saw monthly gains of more than 10%.
The GBP/USD recovers some ground on Wednesday as traders await the Federal Reserve's (Fed) monetary policy decision, amid heightened tensions in the Middle East and the release of jobless claims data in the US. At the time of writing, the pair trades at 1.3452, up 0.19%.
The Japanese Yen (JPY) halts its three-day losing streak against the US Dollar (USD) on Wednesday, finding modest support despite a string of soft trade data.
The Canadian Dollar (CAD) is trading flat against the US Dollar (USD) on Wednesday as markets adopt a cautious tone ahead of the Federal Reserve's (Fed) Federal Open Market Committee (FOMC) Meeting.
US citizens filing new applications for unemployment insurance dropped to 245K for the week ending June 14, as reported by the US Department of Labor (DOL) on Thursday. This print matched initial estimates and came in below the previous week's revised tally of 250K (revised from 248K).
The US Dollar Index (DXY), which measures the value of the Greenback against a basket of six major currencies, is trading slightly lower on Wednesday after gaining about 0.7% the previous day.
Gold (XAU/USD) is holding steady near $3,392 on Wednesday, supported by persistent geopolitical tensions and investor caution ahead of the Federal Reserve’s (Fed) policy decision.
Verbal escalation between US President Donald Trump and Iranian officials has boosted fears of a wider regional war in the Middle East, with the involvement of the US, which is underpinning Crude Oil prices near four-month highs.
The Indian Rupee (INR) remains on the back foot against the United States Dollar (USD) on Wednesday, marking its second consecutive day of weakness despite a relatively subdued Greenback.
The Japanese Yen (JPY) is entering Wednesday’s NA session with a 0.3% gain, outperforming nearly all of the G10 currencies in an environment of mild USD weakness, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
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