Currencies

The Bank of Japan held rates in a divided decision and raised its inflation forecasts, pushing the pair lower, but the upside bias remains intact.

The US dollar is currently moving alongside oil, driven more by geopolitical tensions and inflation expectations than traditional fundamentals, creating a volatile, two-way market with no clear direction.

Oil is setting the macro tone, and with tensions easing, markets look calm but poised for a larger move.

Tracking important market threads across currencies, commodities, and indices.

The pair tries to surpass pivotal resistance as the Bank of England struck a more hawkish tone than its US peer amid inflationary risks from the Middle East conflict.

The central bank of Australia delivered a back-to-back increase as the spike in energy prices can push inflation higher, but the Aussie was volatile as four of nine voters opted for a hold.

Ahead of next week's Fed and BoJ decisions, the pair rises to nearly two-year highs as the greenback attracts risk-off demand while the yen fails to benefit.

Seven major central banks announce their rate decisions within days of each other, as stagflation risks stemming from the US-Iran conflict complicate their monetary policy paths.

Strong Australian growth boosts chances of another RBA rate hike but the pair remains under pressure on safe-haven demand for the US dollar.

The pair rises as fiscal worries and growth risks from higher oil prices prevent the Yen from benefiting from risk aversion, while the greenback finds demand.

The Middle East conflict has shaken global markets. Shares are falling while oil, gold and the dollar are rising on risk fears.