US Federal Reserve (Fed) Vice Chair Philip Jefferson said that recent inflation numbers suggest the Fed is still making headway toward its 2% target. However, he cautioned that the outlook has become less certain, with the threat of new import tariffs potentially pushing prices higher.
The Euro (EUR) is entering Wednesday’s NA session with a decent 0.5% gain, a mid-performer among the G10 in the context of a broadly weaker US Dollar (USD), Scotiabank's Chief FX Strategist Shaun Osborne notes.
Pound Sterling (GBP) is holding up quite well as UK Prime Minister Keir Starmer delivers some wins on trade and geopolitics, ING's FX analysts Francesco Pesole and Chris Turner note.