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ING Bank N.V.

June 18, 2026

FX Daily: Dollar Enjoys Fed's Hawkish Adjustment

Daily UpdateRates Govt BondsOther

The US dollar sustains gains following a hawkish FOMC pivot, while the market focuses on upcoming central bank meetings in the Czech Republic, Norway, and the UK.

Key Takeaways

  • 1.The US dollar retains gains following the Fed's hawkish pivot, though further upside is expected to be limited.
  • 2.The Czech National Bank is expected to hike rates by 25bp to 3.75% today.
  • 3.The BoE is anticipated to maintain current policy despite facing pressure from wage growth and inflation.

Table of Contents

  • USD: Fed story can underpin dollar this summer
  • EUR: Steady amid rate meetings in Europe
  • GBP: BoE will try to ride out the inflation spike
  • CZK: Insurance rate hike supports further koruna gains

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Authors

Chris TurnerFrantisek TaborskyFrancesco Pesole

Securities

DXYEURUSD

Themes

Central Bank PolicyInflation

Regions

EuropeUnited StatesCzech RepublicUK

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ING Bank N.V.Daily UpdateDXYEURUSDRates Govt Bonds

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