EUR/JPY remains flat after experiencing volatility, hovering around 183.70 during the early European hours on Thursday. The currency cross remains subdued as the Euro (EUR) failed to gain support from the strong German data.
European Central Bank (ECB) Governing Council member and President of the Deutsche Bundesbank, Joachim Nagel, said during the European trading session on Friday that the central bank could raise interest rates if the outlook for the Eurozone economy doesn’t improve markedly.
The Pound Sterling (GBP) trades calmly against its major currency peers, flattening around 1.3600 against the US Dollar (USD), during the European trading session on Thursday.
Danske Research Team expects the the central bank of Sweden, Riksbank to keep its policy rate unchanged at 1.75% but adopt a more hawkish tone, acknowledging upside inflation risks.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is remaining steady after posting nearly 0.5% losses in the previous day and trading around 98.00 during the Asian hours on Thursday.
Reserve Bank of New Zealand (RBNZ) Governor Anna Breman said on Thursday that she anticipates slightly elevated near-term inflation, adding that growth to be slightly slower but still expected this year.
The US Dollar Index (DXY) slides near the 98.00 area, with limited losses supported by resilient United States (US) data but capped by improving risk sentiment after Axios reported that the US and Iran are moving closer to a deal aimed at ending the conflict.
MUFG’s Michael Wan highlights that the Philippines faces heightened vulnerability to Middle East supply disruptions, with April Consumer Price Index (CPI) surging to 7.2% year-on-year, far above expectations.
Austan Goolsbee, President of the Federal Reserve (Fed) Bank of Chicago, spoke at the 2026 Milken Institute Global Conference in California on Wednesday. He stated that the impact of rising productivity on inflation remains an active topic of debate among the Fed.
