The AUD/JPY pair experienced a second consecutive day of losses on Friday landing at around 93.30, as sellers maintained control and drove prices lower.
The Dow Jones Industrial Average (DJIA) struggled on Friday, falling to a fresh seven-week low below 42,200 before staging a mild recovery to the 42, 800 region.
Federal Reserve (Fed) Board of Governors member Adriana Kugler hit newswires with cautionary comments on Friday that whiplash trade policies could do a lot of damage, including pinning inflation at a persistently higher level.
The US Dollar Index (DXY) extends its brutal slide on Friday, heading for its worst weekly performance in over a year as traders accelerate the selloff ahead of the February employment report.
The Mexican Peso (MXN) erases earlier gains against the US Dollar (USD) and remains unable to reach a new weekly high, as the exotic pair seems to have found a floor near 20.22.
Federal Reserve (Fed) Chair Jerome Powell stuck to his cautious guns on Friday, warning that policy uncertainty makes it difficult for the Fed to enact policy adjustments.
Federal Reserve Governor Adriana Kugler indicated that rising inflation risks provided a strong argument for keeping interest rates steady for an extended period.
The EUR/USD pair stands higher on Friday after the European session, reaching its strongest level since November 2024 above 1.0800 as bullish momentum continued to build.
The proposal from Germany’s expected coalition partners that they plan to relax the country’s debt rules to boost defence spending and support infrastructure has been billed by some commentators as Germany’s whatever it takes moment, Rabobank's FX analyst Jane Foley notes.
John Williams, President of the Federal Reserve Bank of New York, indicated on Friday that, so far, there was no evidence to suggest that inflation expectations were beginning to encounter any difficulties.
A Reuters poll showed that 70 of 74 economists surveyed suggest that risks for the Mexican, Canadian, and American economies are piling up amid US President Donald Trump's controversial trade policies.
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