Forex Today: Recession fears weigh on sentiment, eyes on US PMI, Powell’s testimony
Here is what you need to know on Thursday, June 23: Markets remain risk-averse on
EUR/GBP eases from one-week low on dismal Eurozone PMIs, still well bid around 0.8625-30
EUR/GBP shot to over a one-week low on Thursday, though the uptick lacked bullish conviction.
EUR/USD: Bearish bias, to trade between 1.0200/1.0800 – MUFG
The EUR/USD is recovering on Wednesday, trading near 1.0600, boosted amid a weaker dollar. The
EUR/USD bears move in to test bull’s commitments below 1.0600
EUR/USD eases back from the 1.06 mile stone and overnight highs. US Fed Chair Powell
USD/CNH sticks to the consolidative theme – UOB
Further range bound trading within 6.6600-6.7400 is predicted in USD/CNH in the next weeks, commented
NZD/USD drops to multi-day low, around mid-0.6200s amid notable USD demand/risk-off
NZD/USD broke down through a three-day-old trading range amid broad-based USD strength. Fed rate hike
USD/CAD sticks to intraday gains amid a slump in oil prices, broad-based USD strength
A combination of factors assisted USD/CAD to regain traction and snap a two-day losing streak.
USD/JPY: A move to 137.50 now appears on the cards – UOB
In the opinion of FX Strategists at UOB Group Lee Sue Ann and Quek Ser
Japanese Official: Dramatic forex moves are not ideal
The jawboning from the Japanese authorities continues, with an unnamed official noting on Wednesday that
Countries that refuse to raise interest rates will experience a sharp depreciation of their exchange rates – Natixis
With inflation rising almost across the board, almost all central banks are raising interest rates