Scotiabank’s Shaun Osborne and Eric Theoret say the Japanese Yen (JPY) is soft and underperforming most G10 currencies despite stronger Producer Price Index (PPI) data, with markets fully pricing a 25 bps Bank of Japan (BoJ) hike next week and another by December.

TD Securities strategists note that a softer United States (US) core Consumer Price Index (CPI) print triggered only modest US Dollar (USD) weakness. They argue the broad USD uptrend remains in place, supported by strong payrolls and geopolitical tensions.

United States EIA Crude Oil Stocks Change below expectations (-4M) in June 5: Actual (-7.228M)

Rabobank strategists Molly Schwartz and Christian Lawrence discusses Mexico in its latest Mexican Peso (MXN) Market Musings, noting that the Mexican Peso has gained against the US Dollar (USD) year-to-date but weakened recently.

NZD/USD trades around 0.5815 at the time of writing on Wednesday, little changed on the day, as investors digest a series of macroeconomic releases from China and the United States (US).

ING’s Frantisek Taborsky notes Czech inflation has surprised on the downside, but strong wage growth and stable core inflation keep the Czech National Bank on track for a rate hike at its June meeting.

Canada BoC Interest Rate Decision meets expectations (2.25%)

Scotiabank’s Shaun Osborne and Eric Theoret note GBP/USD is slightly higher, British Pound (GBP) outperforming most G10 peers except the Canadian Dollar (CAD) and Norwegian Krone (NOK), as traders await UK trade and industrial production data before the June 18 BoE meeting.

BNY highlights that European governments have raised a record USD 504 billion via syndicated bonds in 2026, driven by defense, infrastructure and energy-transition spending. Despite higher yields and rate uncertainty, demand remains strong, helping governments manage refinancing needs.

Brown Brothers Harriman’s (BBH) Elias Haddad reports that the Norwegian Krone is outperforming as underlying inflation overshot expectations in May, bringing forward rate hike bets from November to September.

Ripple (XRP) grinds lower, trading around $1.10 at the time of writing on Wednesday. The sticky bearish outlook mirrors the broader crypto market, with major coins such as Bitcoin (BTC) and Ethereum (ETH) facing weak demand as investors de-risk.

MUFG’s Hardman and Lockhart report that Brent Oil prices have shown a muted response to renewed US–Iran military exchanges, trading near recent lows after briefly dipping below USD 90 per barrel.

The Canadian Dollar (CAD) strengthens against the US Dollar (USD) on Wednesday as traders digest the latest US Consumer Price Index (CPI) data and await the Bank of Canada's (BoC) interest rate decision.

United States Consumer Price Index Core s.a rose from previous 335.423 to 336.1213 in May

Rabobank’s Senior FX Strategist Jane Foley highlights that the Australian Dollar (AUD) has fallen from a top G10 performer to the bottom of recent rankings as growth momentum fades and USD strength weighs.

United States Consumer Price Index n.s.a (MoM) above expectations (335.11) in May: Actual (335.12)

United States Consumer Price Index ex Food & Energy (YoY) meets expectations (2.9%) in May

United States Consumer Price Index ex Food & Energy (MoM) below forecasts (0.3%) in May: Actual (0.2%)

United States Consumer Price Index (YoY) meets forecasts (4.2%) in May

United States Consumer Price Index (MoM) in line with expectations (0.5%) in May

ING strategists Warren Patterson and Ewa Manthey highlight that Chinese unwrought Aluminium and product exports rose strongly in May to the highest level since November 2024, helped by overseas demand after Middle East disruptions.

Major crypto assets trade under intense headwinds on Wednesday, as market participants navigate complex geopolitical and macroeconomic environments. Bitcoin (BTC) has slipped toward $61,000 after its recent rebound was sold near $64,000, leaving buyers exhausted.

The West Texas Intermediate (WTI), futures on NYMEX, turns flat slightly above $88.00 in the European trade on Wednesday after clawing back its early losses.

Commerzbank’s Volkmar Baur notes that stronger-than-expected South African GDP growth masks weak underlying domestic demand, with consumption and private investment soft while government spending dominates.

The Japanese Yen (JPY) extends its decline on Wednesday, threading further beyond the key 160.00 per US Dollar (USD), which is considered a red zone for Tokyo intervention.

India M3 Money Supply remains unchanged at 12% in May 25

Silver prices (XAG/USD) fell on Wednesday, according to FXStreet data. Silver trades at $63.99 per troy ounce, down 2.11% from the $65.37 it cost on Tuesday.