June and Second Quarter 2025 in Figures – Currency Thoughts
June and Second Quarter 2025 in Figures
June 30, 2025
The dollar weakened sharply against most other currencies during the second quarter, including in the final month of June. The advance in U.S, equities outperformed stock markets in most other currencies in both time comparisons. A rise in the 10-year U.S. Treasury yield in April-May was mostly reversed during June. The price of oil fell about 9% in this latest quarter, while that of Bitcoin leaped almost 30%. The quarter saw wild market swings in response to wild swings in U.S. foreign, economic, and regulatory policies during the period.
The Federal Reserve was an oasis of policy consistency and stability, but President Trump’s criticism of Fed policy injected a note of great uncertainty even in the realm of monetary policy. Fewer central bank interest rate changes occurred in June than earlier in the quarter. Changes this past month included rate cuts of 100 basis points (a full percentage point) in Russia, 50 basis points in Mexico, and 25 bps in Norway, Switzerland, and Sweden. The Central Bank of Brazil’s Selic interest rate was lifted by 25 basis points.
| 10-Yr Yield | 06/30/25 | June Change | 2nd Qtr Chg |
| U.S. | 4.24% | -16 Basis Points | +2 Basis Points |
| Germany | 2.60% | +30 | -13 |
| Japan | 1.42% | -6 | -6 |
| U.K. | 4.49% | -15 | -19 |
| Canada | 3.27% | +7 | +30 |
| Switzerland | 0.37% | +17 | -14 |
| CB Policy Rate | 06/30/25 | June Change | 2nd Qtr Chg |
| Fed funds target | 4.25-4.50% | 0 Basis Points | 0 Basis Points |
| ECB deposit rate | 2.00% | -25 | -50 |
| BOJ policy rate | 0.50% | 0 | 0 |
| BOE Bank Rate | 4.50% | 0 | -25 |
| Swiss Policy Rate | 0.0% | -25 | -25 |
| FX Rates | 06/30/25 | June Chg in $ | 2Q25 Chg in $ |
| EUR/USD | 1.1778 | -3.7% | -8.2% |
| USD/JPY | 144.12 | +0.1% | -3.9% |
| USD/CHF | 0.7935 | -3.6% | -10.3% |
| GBP/USD | 1.3725 | -1.9% | -5.9% |
| AUD/USD | 0.6582 | -2.2% | -5.0% |
| NZD/USD | 0.6096 | -2.1% | -6.8% |
| USD/CAD | 1.3625 | -0.8% | -5.3% |
| USD/CNY | 7.1641 | -0.8% | -1.3% |
| Equities | 06/30/25 | Chg in June | Change in 2Q |
| S&P 500 | 6203 | +4.9% | +10.6% |
| Nasdaq | 20599 | +7.8% | +19.1% |
| Djia | 44129 | +4.4% | +5.1% |
| Dax | 23910 | -0.4% | +7.9% |
| Nikkei | 40487 | +8.1% | +13.7% |
| Ftse | 8761 | -0.1% | -0.6% |
| Canada TSE | 26835 | +2.5% | +7.8% |
| Swiss SMI | 11921 | -2.5% | -5.4% |
| Commodities | 06/30/25 | Chg in June | Change in 2Q |
| Oil, $ per barrel | 64.97 | +6.9% | -9.1% |
| Gold, $ per ounce
Bitcoin, $ |
3318.8
107,605 |
+3.2%
+3.0% |
+5.4%
+28.4% |
Copyright Larry Greenberg 2025. All rights reserved. No secondary distribution without express permission.
Tags: market movements in June 2025
ShareThisYou can leave a response, or trackback from your own site.
Leave a Reply
You must be logged in to post a comment.
