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Market Update 09/05/2024

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The AUD loses ground against the US Dollar for the second  day, as higher US Treasury bond yields underpinned the Greenback. On Wednesday, the AUD/USD lost 0.26% as market mood turned risk-off ahead US data scheduled during the rest of the week,

Officials at the Bank of Japan (BoJ) and the Ministry of Finance (MoF) to verbally support the JPY, the USDJPY weakened yesterday. The absence of suspected intervention in the currency market this week appears to be boosting confidence among USDJPY buyers. BoJ Governor Ueda expressed worries about the ongoing weakening of the yen, suggesting that it could lead to economic uncertainties and challenges for businesses in Japan. 
Bank of England (BoE) policy meeting is the key focus for markets, preceding next week’s release of US April inflation data. Market expectations suggest that the BoE will maintain interest rates at their current level of 5.25%.

Currency PairMid-market rate


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