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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 is back in the red, falling from 0.7050 in the Asian session on Friday, reversing the previous day's goodish rebound from a nearly two-month low amid a modest US Dollar uptick. Iran downplayed Trump's claim that a deal has been approved and said that key issues, including the Strait of Hormuz and frozen funds, remain unresolved. This keeps a lid on optimism, which, along with Fed rate-hike bets, revives USD demand and weighs on the pair.
USD/JPY recovers ground above 160.00 in the Asian session on Friday. Economic risks due to uncertainty in the Middle East undermine the Japanese Yen, while lifting the safe-haven US Dollar (USD) amid the US-Iran standoff. This acts as a tailwind for the pair, though fears of intervention could limit deeper JPY losses and cap the pair's rebound ahead of the BoJ meeting next week.
Gold attracts some sellers near the $4,246-$4,247 region during the Asian session, stalling the previous day's solid recovery move from its lowest level since November 2025. Mixed signals regarding a potential US-Iran peace deal revive demand for the safe-haven US Dollar.
Pi Network (PI) is trading at around $0.120 after a modest recovery the previous day. Despite this recent rebound, traders should be cautious as a scheduled unlock of 14.8 million PI tokens on Friday could limit the token's recovery potential by increasing market supply. Meanwhile, the technical outlook is showing early signs of fading bearish momentum, suggesting a short-term bounce.
Warsh is starting his tenure at the Fed during a transition of sorts. Given the prior FOMC statement and the countless Fed speakers we’ve heard from since then, it seems Fed officials are in the midst of shifting toward a more neutral policy stance.
May's CPI put headline inflation at 4.2% on the year, up from 3.8% in April and the hottest reading since April 2023, while core prices rose just 0.2% on the month, undershooting the 0.3% consensus and halving April's pace.
