The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Monday at 7.1139, as against the previous day's fix of 7.1358 and 7.1132 Reuters estimates.
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FXStreet
Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.
AUD/USD reverses a brief uptick and turns lower to hit nine-week lows below 0.7000 in the European morning on Tuesday, as traders digest cautious remarks from Reserve Bank of Australia (RBA) Governor Michele Bullock during the press conference. Earlier on, the RBA raised the cash rate to 4.60%, as widely expected, leaving the door open to further rate hikes if needed.
USD/JPY struggles to capitalize on the overnight bounce from a one-week low, consolidating around 157.50 in 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 the pair.
Gold steadies on Tuesday after suffering a sharp sell-off at the start of the week. The move appears to be a corrective bounce, as the broader narrative remains tied to expectations of further Federal Reserve interest rate hikes.
The cryptocurrency market upholds a neutral-to-bullish bias on Tuesday, with Bitcoin edging closer to a breakout above $84,000. Altcoins mirror BTC’s outlook, with Ethereum holding above $2,700 and Ripple pushing past the reclaimed $1.50 level.
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.
