Buck regains, Stocks flourish, Yen 40-year low

Indeed, the Buck basically recovered the ground lost yesterday as the end of June marks the finish line for both H1 as well as the second quarter, Q2, in which the equities had their best performance in six years according to data from the S&P 500 Index. Meanwhile, the Dollar experienced major fluctuations with the first half of the quarter a tale of downfall and the latter part one of success.

Regardless of conflict, mixed economic indicators, and doubts about the future the value of the Buck overall was not significant, per the Bloomberg Dollar Spot Index. At the moment of writing, it looked a bit less than one percent advancement while trading within a 2.0% range.

Today’s data points will be mostly labor related as May’s JOLTS surveys on openings, quitting, and layoffs all out at 10AM. The expectation is for evidence of declining vacancies and a low quit rate. There will also be June’s Conf. Board Consumer Confidence at the same time. Tomorrow, we get the preamble to Non-Farm Payrolls in the ADP Employment Change, Purchasing Managers Index for Manufacturing, and Institute of Supply Management surveys.

EUR

The Euro has given up 1.7% of its value since the beginning of April and could be on track for its worst second-quarter performance since 2016. With no major data points due until tomorrow’s June Consumer Price Index figures, we will see whether the shared currency can minimize its losses. Politically, we will be watching for attempts to mend ties with the United Kingdom, following assessments across the continent that Brexit caused more trouble than it was worth.

JPY

The Japanese Yen has fallen to its weakest level against the U.S. Dollar since 1986, raising the possibility of another round of FX market intervention. Finance Minister Satsuki Katayama has pledged to respond as officials continue to closely monitor developments across the FX market. We will see whether U.S. Secretary Scott Bessent announces any coordinated measures, as he has been working closely with Japanese counterparts to help manage the situation. For now, the Yen remains highly volatile and weak.