Brexit negotiating position has been weakened - ANZ

Ross J Burland FXStreet

Analysts at ANZ explained that after taking comfort from the Dutch and French election results, markets were reminded that the anger and resentment vote is alive and well, with the UK election delivering the incumbents back into power, but in an unconvincing and very narrow fashion.

Key Quotes:

"Uncertainty is rife on numerous levels, and while markets were rattled, there was still a sense of containment amidst hope of a) potentially a soft Brexit; and b) less fiscal austerity."

"The Prime Minister is back in 10 Dowling St but the knives will be out with eyes on the Foreign Secretary. An inability to make decisive changes to cabinet highlighted a position of weakness as opposed to strength."

The Brexit negotiating position has been weakened. How workable is the coalition? What/whoexactlyistheDUP?Andwhatdoesthedeallooklike?There appears to be agreement in spirit but no deal.

Will the young millennials turn up and vote in other elections around the globe too? Lots of unknowns and the latter facet will be relevant in the upcoming New Zealand election."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

GBP/USD nudges higher above 1.3350 despite Middle East turmoil

The GBP/USD pair rebounds to near 1.3385 during the Asian trading hours on Thursday. However, the potential upside for the major pair might be limited amid cooler-than-expected UK inflation data and escalating tensions in the Middle East. Traders will take more cues from the UK Retail Sales report, which is due later on Friday.

EUR/USD advances ahead of ECB policy decision

EUR/USD extends its gains for the second consecutive day, trading around 1.1410 during the Asian hours on Thursday. The pair gains ground as the Euro finds solid support ahead of the European Central Bank's upcoming interest rate decision.

Gold extends range play above $4,100 as inflation fears lift Fed hike bets and cap gains

Gold consolidates above the $4,100 round figure through the Asian session, and seems to have stalled its modest pullback from an over two-week high touched the previous day. Crude oil prices climb to a fresh high since June 11 amid a further escalation of tensions between the US and Iran, fueling inflation fears and bolstering US Fed interest rate hike expectations.

Hyperliquid, Robinhood could lead crypto’s next bull market as DeFi and TradFi converge

The next crypto bull market could be driven by the growing convergence between blockchain-based financial infrastructure and traditional finance, according to Bitwise CIO Matt Hougan. In a report published late Tuesday, Hougan argued that crypto may be showing early signs of a market bottom, with Bitcoin gaining 9% since July 1 even as the NASDAQ 100 declined 6%.

Ripple and Stellar await direction amid cautious sentiment

Ripple and Stellar trade cautiously as both tokens hover around key technical levels. XRP is testing resistance at its 50-day EMA, while XLM continues to consolidate around the $0.187 support zone. Meanwhile, mixed derivatives data with a slight bearish tilt suggests traders remain cautious, keeping the next directional move uncertain.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.