Iran’s Foreign Ministry confirmed on Friday that a planned meeting in Switzerland with US officials had been postponed, adding that preparations are already underway for a new meeting in the coming days, Reuters reported.

Deutsche Bank’s Galina Pozdnyakova, Jim Reid and Luke Templeman highlight that next week’s main macro focus will be global flash PMIs and several key inflation releases.

Citing a senior US official on Friday, Reuters reported that Israel and Hezbollah have agreed to a ceasefire at 4 p.m. local time on Friday.

Russia Central Bank Reserves $: $729.3B vs previous $749.7B

Canada Retail Sales (MoM) below expectations (0.6%) in April: Actual (0.5%)

Canada Retail Sales ex Autos (MoM) below expectations (0.7%) in April: Actual (0.1%)

UOB Global Economics & Markets Research notes that USD/SGD closed at 1.2900, with the Singapore Dollar Nominal Effective Exchange Rate (S$NEER) estimated at 1.75% above its mid-point.

ING strategists Francesco Pesole, Frantisek Taborsky and Chris Turner note that the Dollar has held post-Fed gains, keeping USD/JPY elevated in intervention territory.

MUFG’s Derek Halpenny says the Swiss Franc underperformed after the SNB left rates at zero, but only minor inflation forecast revisions underline expectations of persistently low Swiss inflation.

Rabobank’s Global Daily notes that the Bank of England kept rates unchanged in what policymakers call an “active hold,” effectively tightening policy versus pre‑war expectations for cuts.

Rabobank’s Global Daily stresses that unchanged rates in the UK and US contrast with recent hikes by the ECB and Bank of Japan, but argues this is less divergence than it appears.

Greece Current Account (YoY) rose from previous €-2.344B to €-1.389B in April

Here is what you need to know on Friday, June 23:

GBP/USD remains subdued for the third successive day, trading around 1.3190 during the early European hours on Friday. The British Pound (GBP) pares its daily losses against the US Dollar (USD) but remains in negative territory following the release of key economic data from the United Kingdom (UK).

European Central Bank (ECB) policymaker and the head of Belgium's central bank, Pierre Wunsch, said on Friday that the central bank may cut the interest rates when the dynamics turn.

Retail Sales, a key measure of consumer spending, in the United Kingdom (UK) climbed 1.2% month-over-month (MoM) in May after falling by a revised 1.0% in April, the latest data published by the Office for National Statistics (ONS) showed on Friday.

United Kingdom Public Sector Net Borrowing came in at £23.294B, above forecasts (£18.5B) in May

United Kingdom Retail Sales (MoM) above forecasts (0.5%) in May: Actual (1.2%)

United Kingdom Retail Sales ex-Fuel (YoY) above expectations (3.3%) in May: Actual (4.6%)

United Kingdom Retail Sales (YoY) above expectations (1.9%) in May: Actual (3.2%)

United Kingdom Retail Sales ex-Fuel (MoM) above expectations (0.4%) in May: Actual (1.2%)

USD/IDR depreciates after three days of consecutive gains, trading around 17,840 during the Asian hours on Friday.

Gold prices fell in India on Friday, according to data compiled by FXStreet.

Greater Manchester Mayor Andy Burnham could now challenge UK Prime Minister Keir Starmer for the leadership of the governing Labour Party and the country after winning a parliamentary seat in northern England on Friday, CNN reported on Friday.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, remains flat after two days of gains and is trading around 100.83 during the Asian hours on Friday.

US Vice President JD Vance canceled his trip to talks with Iran in Switzerland, CNN reported on Friday.

Japan’s Finance Minister Satsuki Katayama said on Friday that the government is prepared to take decisive action against speculative activity in the foreign exchange market. 

Bank of Japan (BoJ) Deputy Governor Himino said on Friday that the Japanese central bank likely to keep hiking rates based on economic, price and financial trends. Himino added that currency moves may impact inflation expectations, core inflation, so we will keep monitoring developments closely. 

The Bank of Japan (BoJ) board members shared their views on the monetary policy outlook on Thursday, per the BoJ Minutes of the April meeting.    

The US-Iran interim peace deal took effect, and shipping started returning to the Strait of Hormuz as the US dropped its naval blockade of Iran, Bloomberg reported on Thursday.