Region: Europe

USD/JPY hits 40-year highs as dollar stays firm. China PMI rebound fails to ease demand concerns. Euro weaker as ECB forum opens

US dollar pulls back as tech slump weighs on risk mood. Euro consolidates as disinflation narrative builds. RBA signals faster cuts when growth slows

Rates regime strengthens as debasement trade fades. EUR/USD’s decline stalls at 1.1350. Sterling’s problem is the dollar.

Dollar strength beyond hawkishness. Divergence depressing the euro. Sterling also at the mercy of the dollar.

A stronger US dollar runs into harder questions. EUR/USD pushes through 1.14. Risk-off hurts sterling.

Sterling firms as Starmer steps down. Hawkish Fed bodes well for dollar. Euro still a laggard after dovish Lagarde.