JEMTF - The Greenback Consolidates While Sustaining A Break Against The Yen

2024-06-27 11:08:00 ET

Summary

• The dollar is sporting a softer profile today against all the G10 currencies except the Swedish krona.
• Most emerging market currencies are also firmer, with the notable exception of Türkiye and South Africa.
• All the large bourses fell in the Asia-Pacific region but India. The losses were led by a 2% slide in the Hang Seng and a nearly 2.4% drop in the index of mainland shares that trade there.
• Europe's STOXX 600 is off for a third consecutive session - which, if sustained, matches the longest losing streak of the year.
• US index futures are trading lower.

Overview

The dollar ( DXY , USDOLLAR ) is sporting a softer profile today against all the G10 currencies but the Swedish krona. The Riksbank sounded more dovish than previously, signaling the possibility of a cut in each of the last three meetings of the year. The dollar has sustained its push above JPY160 against the Japanese yen. Most emerging market currencies are also firmer, with the notable exception of Türkiye and South Africa. Türkiye is expected to keep its one-week repo rate steady today at 50%, while the Czech central bank is seen delivering a quarter-point cut. (to 5.0%). The central bank of Mexico meets later today and will hold the interest rate target at 11.00%....

For further details see: