In this article, we will focus on the second most traded currency pair in the world, the USD/JPY pair.
The AUD/USD pair remained under selling pressure for the second consecutive day on Wednesday and continued losing ground.
The South African Rand weakened early on Wednesday, as analysts expect that the Federal Reserve policy meeting later in the day could weaken it further.
Pound Sterling has been grappling with significant challenges ahead of the upcoming UK inflation data.
The US Consumer Price Index (CPI) figures will be released today on Wednesday at 12:30 GMT by the US Bureau of Labour Statistics (BLS).
The key event of the day is the highly anticipated inflation data for May which will be released by the US Bureau of Labour Statistics (BLS) at 12:30 GMT. Leading up to the Consumer Price Index (CPI), the USD has fluctuated after the release of disappointing economic data, particularly due to a mixed May Nonfarm…
The European Central Bank (ECB) is expected to raise key rates by 25 basis points which could provide support for the euro.
It is widely anticipated that on Wednesday, Federal Reserve officials will raise borrowing costs by a quarter of a percentage point, marking the 10th consecutive rate increase since March 2022. However, there is speculation among investors and economists that this may be the central bank’s final action before taking a pause. The US dollar has…