Citi sees potential for yen (JPY) underperformance

The British pound posted losses earlier but has clawed back and is in positive territory. GBP/USD is trading at 1.2846 in the North American session, up 0.20% on the day. UK GDP rises for second straight quarter After sustaining a technical session in the second half of 2023, the UK economy is on a rebound….

As today’s USD/CHF chart shows, the exchange rate has fallen below 0.872 – the Swiss franc hasn’t been this strong against the US dollar since early February this year. Bearish sentiment is driven by:→ Expectations of a Fed rate cut, weakening the US dollar;→ Low inflation in Switzerland – today’s CPI data shows -0.2%;→ Geopolitical…

The People’s Bank of China is due to set the daily USD/CNY reference rate at around 0115 GMT (2115 US Eastern time), a fixing that remains one of the most closely watched signals in Asian foreign exchange markets. China operates a managed floating exchange rate system, under which the renminbi (yuan) is allowed to trade…

Although the FOMC decision was the main event on everyone’s radars, there was no shortage of top-tier economic updates that pushed major currencies around throughout the week. Source link