BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
The U.S. dollar slipped on Thursday amid renewed expectations of Federal Reserve rate cuts and signs that President Donald Trump may take a softer approach on tariffs. Trump said he was open to extending the July 8 deadline for completing trade negotiations, while Treasury Secretary Scott Bessent hinted that extensions could be granted to nations negotiating in good faith.
This dovish shift weighed on the dollar, pushing the euro to a seven-week high of $1.1525. The dollar also fell 0.43% against the yen to 143.98 and dropped 0.34% against the Swiss franc to 0.81725. Against a basket of major currencies, the greenback declined to 98.327, its lowest level since April 22.
Markets were further influenced by weaker-than-expected U.S. inflation data, which boosted expectations of a Fed rate cut as early as September. Investors are now eyeing Thursday’s producer price index for additional clues on inflation.
Meanwhile, sterling rose 0.38% to $1.3588, the Australian dollar edged up 0.05% to $0.6506, and the New Zealand dollar climbed 0.1% to $0.6033. The offshore yuan strengthened slightly to 7.1953 after the U.S. and China reached a tentative trade truce following talks in London, though details remain unclear.
The euro gained broadly, rising to 165.88 yen after touching 166.42, its highest since October. It also hit a one-month high of 84.88 pence and extended gains against the Aussie. Analysts credit the euro’s strength to the European Central Bank’s recent signals that it may pause its rate-cutting cycle after hitting the 2% inflation target, contrasting with potential Fed easing ahead.
The euro has climbed nearly 11% year-to-date, buoyed by capital inflows into European markets and dollar weakness.
