Pressure is building on the Chinese yuan, which is back to a nearly three-month low against the greenback following disappointing Chinese inflation data and monetary policy easing by the People's Bank of China (PBOC).
In a major policy review presented Thursday, the European Central Bank decided to revise its inflation target and allow consumer prices to rise above the limits when deemed necessary.
WTI crude oil prices fell sharply Tuesday on doubts about OPEC+'s cohesion after the cartel's meeting ended in confusion Monday.
Growth in service sector activity slowed more than expected in June. After reaching a record 64 points in May, the ISM services index came in at 60.1 last month, compared with a consensus of 63.5.
Last Friday, OPEC+ failed to reach an agreement on reducing its oil production restrictions.
The U.S. economy created more jobs than expected in June but the job market is far from having fully recovered from the pandemic, the Labour Department announced Friday, reporting a slightly higher unemployment rate.
The dollar continues to rebound against the Japanese yen, with USDJPY hitting a one-year high of 111 this morning in the face of diverging monetary policies and health conditions.
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The dollar has been trying to recover since the beginning of the week in the face of market participants' fears about the "Delta" variant of COVID-19.
Bitcoin rose over the weekend by as much as 8 percent to USD 35,280 before stabilizing today.
The Bank of England said Thursday it would continue to monitor inflation, which is expected to temporarily exceed 3 percent in the U.K. but left its monetary policy unchanged for now.
The EURUSD has been trying to recover since Tuesday after falling to a more than two-month low below $1.19 on Monday following the Fed's change in tone last week.
The price of bitcoin fell below $30,000 on Tuesday for the first time since late January, with the leading cryptocurrency suffering from Chinese efforts to regulate the decentralized market.
Gold prices fell sharply last week after the Fed changed course on monetary policy.
Yesterday, the FOMC left rates, the pace of asset purchases, and its stance unchanged, in line with expectations, yet the meeting was decidedly hawkish.
The dollar climbed Wednesday against the euro after the U.S. Central Bank (Fed) revised upward its inflation forecast for 2021 and announced its intention to raise rates twice in 2023.
Bitcoin's price maintains a medium-term bearish outlook, but a Tweet from Elon Musk about Tesla's ability to accept the cryptocurrency as payment again allowed for a sharp rise overnight.