The EURUSD rose 3.86%, the biggest monthly gain among the majors. This move came despite the ECB delivering another rate cut, bringing its policy rate to 2.00%. Markets seem to believe the ECB is now prepared to pause after ten consecutive cuts, while the Fed remains stuck at 4.50%, delaying its own easing cycle. Traders increasingly expect the Fed to move earlier than previously anticipated, adding pressure on the dollar.
Additional weakness in the dollar was fueled by growing political pressure. Donald Trump, in a surprising twist, sent a handwritten note to Fed Chair Powell accusing him of costing the country "millions" by delaying rate cuts, asserting that interest rates should already be at 1%. Trump has also hinted at replacing Powell, potentially as soon as January, raising questions about future monetary policy direction.
The snapshot of the changes for the month showed:
EUR -3,86%JPY -0.04%GBP -2.1%CHF -3.51%CAD -0.93%AUD -2.32%NZD -2.33%2 year yield -17.7 basis points at 3.72%.5 year yield, -17.5 basis points at 3.799%.10 year yield, -16.6 basis points at 4.232%30 year yield -14.7 basis points at 4.77%
In the US stock market for June, the major indices closed at record levels (for the second day in a row) to end the trading month. Gains were led by the NASDAQ index :
The Nasdaq index closed the month with a solid gain of 6.57% after rising by 9.56% in May.The S&P index rose line 4.96% after rising by 6.1% in May.The Dow Industrial Average rose by 4.32% after a gain of 3.94% in May This article was written by Greg Michalowski at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( Forexlive Americas FX news wrap 30 Jun. Month ends with USD at low for year. Yields lower )
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