EUR/USD
EUR/USD consoldiates latest gains above 1.1400 in the European morning on Monday. The pair draws support from persistent US Dollar weakness and US President Donald Trump’s extension of the 50% tariff deadline on the European Union (EU) until July 9.
GBP/USD
GBP/USD is holding the uptick to fresh three-year highs of 1.3594 in early Europe on Monday. The unabated US Dollar selling underpins the pair despite a cautious market mood. The UK and US markets are closed on Monday, extending the thin trading conditions.
USD/JPY
The Japanese Yen (JPY) retreats slightly from a fresh monthly high touched against a broadly weaker US Dollar (USD) during the Asian session on Monday amid the latest trade optimism, which is seen undermining safe-haven assets. Any meaningful JPY depreciation, however, seems elusive amid hopes that Japan will strike a trade deal with the US. Adding to this, the growing acceptance that the Bank of Japan (BoJ) will continue raising interest rates should act as a tailwind for the JPY.
AUD/USD
The Australian Dollar (AUD) continues to gain ground against the US Dollar (USD) on Monday, marking fresh six-month highs. The AUD/USD pair receives support as the US Dollar remains under downward pressure amid rising uncertainty surrounding the United States (US) fiscal deficit.
NZD/USD
NZD/USD hits fresh six-month highs, with trading around 0.6030 during the Asian hours on Monday. The pair continues its winning streak for the second successive day as the US Dollar remains under downward pressure amid rising United States (US)-debt concerns.
USD/CAD
The USD/CAD pair prolongs its downtrend witnessed over the past week or so and attracts some follow-through selling during the Asian session on Monday. The downward momentum drags spot prices below the 1.3700 round figure, to the lowest level since October 2024 and is sponsored by a broadly weaker US Dollar (USD).
USD/CHF
USD/CHF continues to weaken as the downtrend extends past 0.8250, as the pair loses almost 1%. Investors seeking safety bought the Swiss Franc (CHF) after US President Donald Trump threatened to enact tariffs of 50% on the European Union (EU) and 25% on Apple’s iPhone manufactured overseas. At the time of writing, the pair trades at 0.8203, at new two-week lows.
CRUDE OIL
Oil prices gained on Monday after U.S. President Donald Trump extended a deadline for trade talks with the European Union, easing concerns about U.S. tariffs on the bloc that could hurt the global economy and fuel demand.
Gold price is on a tepid retreat from two-week highs of $3,365 hit on Friday as buyers take a breather amid holiday-thinned conditions on Monday. The US Dollar ignores Trump’s extension of EU tariff deadline as fiscal concerns haunt.
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