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ING Bank N.V.

July 6, 2026

FX Daily: More Insights Into The Fed This Week

Daily UpdateFXRates Govt BondsOther

The dollar remains supported by expectations of hawkish FOMC minutes, while USD/JPY continues to hover near intervention-sensitive levels. Meanwhile, CEE currencies face volatility amid local inflation releases.

Key Takeaways

  • 1.The US dollar remains supported as markets anticipate hawkish FOMC minutes under new leadership.
  • 2.The Bank of Japan's intervention risk remains elevated as USD/JPY recovers to 162.
  • 3.CEE currencies are facing short-term pressure due to expected dovish local inflation signals in Hungary and the Czech Republic.

Table of Contents

  • FX Daily: More insights into the Fed this week
  • USD: Upside risks remain
  • EUR: Plenty of ECB speakers this week
  • GBP: Focus on the next chancellor
  • CEE: Dovish local signals to test FX gains

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Authors

Chris TurnerFrantisek TaborskyFrancesco Pesole

Securities

USDJPYEURUSDDXY

Themes

Fed HawkishnessJapanese FX InterventionUK Political Risk

Regions

Asia PacificEuropeUnited StatesJapanHungary

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ING Bank N.V.Daily UpdateUSDJPYEURUSDDXYFXRates Govt Bonds

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