Asian Currencies Hit by Iran War, Adding to Economic Strain
The Iran‑Israel war has driven oil prices higher and boosted the U.S. dollar, pushing the Indian rupee, Philippine peso and Indonesian rupiah to record lows. Japan and South Korea have spent billions buying back their currencies, while India and the Philippines face the steepest import‑price spikes. Central banks across the region are tapping foreign‑exchange reserves built after the 1997 crisis to stabilize markets, but the pace of drawdown raises sustainability concerns. The currency slump is translating into higher food and fuel costs for households, especially the poorest.
Wall Street Wagers on Weaker Canadian Dollar as Inflation Cools
Strategists at Deutsche Bank, JPMorgan Chase, and Nomura are increasing bets that the Canadian dollar will weaken further in 2026. The shift follows Canada’s latest inflation data, which showed a slowdown to 2.3% year‑over‑year, prompting a reassessment of the Bank...
Rupee Rises 63 Paise to Close at 95.73 Against US Dollar
The Indian rupee closed at a provisional 95.73 per U.S. dollar on Friday, gaining 63 paise after a second straight rally. The appreciation was driven by softer Brent crude prices, hints of RBI intervention, and optimism from U.S. Secretary of State...
BOJ’s Ueda Meets PM Takaichi, Discusses Monetary Policy Stance
Bank of Japan Governor Kazuo Ueda met Prime Minister Sanae Takaichi to review the BOJ's monetary‑policy stance. Ueda declined to comment on market speculation about a possible June rate hike, emphasizing no specific discussion on that topic. Both leaders reaffirmed...
USDCAD Reverses Back to the Upside, Putting the Buyers Back in Full Control
The USDCAD pair has surged back above its 100‑hour moving average after a sharp dip triggered by Iran‑related geopolitical headlines. In the current market, the pair behaves more like a risk‑sentiment and yield‑driven instrument than a pure oil‑price proxy, with...
GBP/CHF Rebounds as UK Fiscal Worst-Case Fears Fade, Head-and-Shoulders Bottom Forming?
Sterling rallied this week as fears of a UK fiscal crisis receded, driven by Andy Burnham’s market‑friendly remarks and an IMF upgrade to the 2026 growth outlook. The softer political tone and lower oil prices trimmed the UK risk premium,...
China’s Yuan Hits 3-Year High as Global Banks Issue Bullish Forecasts
China’s central bank set the yuan’s daily reference rate at its strongest level since early 2023, pushing the currency to a three‑year high against the US dollar. Global banks are now issuing bullish forecasts, expecting further appreciation as China’s monetary...
BOJ Should Raise Policy Rate at Appropriate Pace, Says Board Member Junko Koeda
Bank of Japan board member Junko Koeda signaled support for raising the policy rate, noting that underlying inflation could exceed 2% and that a hike may be appropriate as early as the June 16 meeting. She voted with the majority...
The Global Push for Local-Currency Cross-Border Payments Is Intensifying
The adoption of instant payment systems (IPS) and ISO 20022 messaging is accelerating worldwide, with more than 100 nations now operating fast‑payment networks. Regional projects such as China’s CIPS, the BIS‑led Nexus hub, ASEAN’s cross‑border QR framework, Brazil’s Pix links, and...
One-Year Forward Rupee Rate Breaches 100 per US Dollar Mark
The Indian rupee’s one‑year forward contract broke the psychologically important 100‑rupee per dollar barrier, coinciding with a spot market low of Rs 96.96. The currency has slid about 7.7% this calendar year and roughly 13% year‑on‑year, driven by higher crude‑oil prices...
UK Political Uncertainty Is Keeping Bond and FX Markets on Edge: Fortrade Review
UK bond and foreign‑exchange markets are under heightened pressure as political uncertainty drives a sharp rise in thirty‑year gilt yields and a gradual weakening of sterling against the dollar and euro. Analysts at Fortrade attribute the moves to ambiguous fiscal...
Ex-CFTC Head Says Digital Dollar Is Inevitable in US
Former CFTC chairman Timothy Massad told CoinDesk at the Digital Money Summit that global market forces make a US digital dollar inevitable, despite President Trump’s public pledge to block any central bank digital currency (CBDC). He highlighted that the Federal...
Martin Kocher: Why Our Changing World Needs a Strong Euro
In a 2026 Lámfalussy Lectures speech, Martin Kocher argued that a strong euro is essential amid shifting global imbalances. He illustrated his point with a fictional Hungarian auto‑part producer, "Onlyup," showing how medium‑sized exporters thrive when currency stability supports long‑term...
Citi Sees India Tightening Currency Controls to Halt Rupee Slump
Citigroup warns that India may tighten capital controls to stem a rupee slide that has exceeded 7% against the dollar this year. The government has already raised fuel taxes and gold import duties, and Citi sees additional steps such as...
Inside Jay Powell’s Turbulent Eight Years Leading the Fed
Jerome Powell took the Federal Reserve helm in February 2018 and spent eight turbulent years steering U.S. monetary policy through a pandemic‑driven recession, soaring inflation, and intense political scrutiny. He weathered repeated public attacks from former President Donald Trump, who...