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Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
AUD/USD extends its consolidative price move through the Asian session on Tuesday, trading just above 0.7000 ahead of the RBA rate decision. Meanwhile, the US Dollar sits near a two-month high as oil-driven inflation fears reaffirm Fed hike bets and continue to push US bond yields to multi-year highs. Moreover, the US-Iran standoff underpins the safe-haven buck and caps the currency pair.
USD/JPY struggles to capitalize on the overnight bounce from a one-week low, consolidating around mid-157.00s during the Asian session on Tuesday. Trump's concerns about the Japanese Yen's weakness fueled speculation about another US-Japan joint intervention. This, along with the hawkish BoJ, underpins the JPY and caps the currency pair. Meanwhile, rising Fed rate-hike bets and oil-driven inflation fears continue to push US bond yields to multi-year highs, keeping the US Dollar pinned near a two-month high and supporting spot prices.
Gold consolidates the previous day's heavy losses to its lowest level since August 5, awaiting a break below $4,100 before the next leg down. Oil-driven inflation fears reaffirm bets of another Fed rate hike in October and continue to push US bond yields to multi-year highs, undermining the non-yielding bullion. Moreover, geopolitical risks help the US Dollar stand firm near a two-month high, which, in turn, favors XAU/USD bears.
NEAR Intents, a cross-chain trading protocol, has blocked more than $50 million in attempted laundering flows linked to the recent Bitget exploit, while freezing $503,000 during the execution process. The intervention was carried out through SHIELD, the protocol’s risk-intelligence system, which monitors transactions for links to hacks and other illicit activity, according to a Monday report.
The Fed and the BoJ have just done something remarkably similar. Both central banks raised interest rates by 25 bps last week, both are confronting inflation risks, and both signal that future decisions will depend on incoming economic data.
