The weakness in the USD is extending.

Catalysts cited include:

  • easing trade tensions, or at least not worsened
  • expectations of closer Fed rate cuts given the softer CPI

EUR/USD has hit a seven-week high, and other FX is rising alongside, yen and Swissy notably.

CAD, AUD, NZD are all laggards

eurusd 12 June 2025 223
Source: Forex Live