Forex Today: BoJ hikes, RBA holds, markets await details of US-Iran deal
بواسطة Eren Sengezer
تم التحديث: 16 Jun 2026
المقالات الشائعة
Here is what you need to know on Tuesday, June 16:
Here is what you need to know on Tuesday, June 16:
The action in financial markets remains choppy in the European session on Tuesday as investors assess the latest central bank announcements, while awaiting clarity on the agreement between the United States (US) and Iran. Later in the session, ZEW Survey from Germany will be featured in the economic calendar ahead of May Housing Starts and Export and Import Price Index data from the US.
US President Donald Trump, Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Ghalibaf virtually signed the agreement to end the blockade of Iranian ports, reopen the Strait of Hormuz and start 60 days of nuclear negotiations, the CNN reported late Monday, citing a senior US official. The details of the agreement is yet to be released and President Trump noted that the the text will likely become public following the official signing ceremony on Friday.
After US stock index futures rallied on Monday, Wall Street's main indexes staged a bullish opening and registered strong gains. The Nasdaq Composite rose more than 3%, while the S&P 500 Index added 1.65% on the day. Early Tuesday, US stock index futures trade mixed, while the US Dollar (USD) Index, which lost 0.15% on Monday, holds steady at around 99.70.
US Dollar Price This week
The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.07% | 0.05% | 0.03% | 0.13% | -0.16% | 0.28% | -0.16% | |
| EUR | 0.07% | 0.10% | 0.11% | 0.19% | -0.12% | 0.35% | -0.09% | |
| GBP | -0.05% | -0.10% | -0.17% | 0.09% | -0.22% | 0.25% | -0.19% | |
| JPY | -0.03% | -0.11% | 0.17% | 0.09% | -0.20% | 0.29% | -0.20% | |
| CAD | -0.13% | -0.19% | -0.09% | -0.09% | -0.33% | 0.20% | -0.28% | |
| AUD | 0.16% | 0.12% | 0.22% | 0.20% | 0.33% | 0.47% | 0.03% | |
| NZD | -0.28% | -0.35% | -0.25% | -0.29% | -0.20% | -0.47% | -0.44% | |
| CHF | 0.16% | 0.09% | 0.19% | 0.20% | 0.28% | -0.03% | 0.44% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
The Reserve Bank of Australia (RBA) announced on Tuesday that it held the Official Cash Rate (OCR) at 4.35% after concluding its June monetary policy meeting. The decision aligned with the market expectations. In the post-meeting press conference, RBA Governor Michele Bullock noted that the reports of a peace deal in the Middle East are welcome news but added that they do not rule out further tightening if needed. After rising more than 0.3% on Monday, AUD/USD corrects lower and trades near 0.7050, losing about 0.2% on the day.
In the meantime, the data from China showed that Industrial Production Expanded 4.5% on a yearly basis in May, while Retail Sales contracted by 0.6% in the same period.
The Bank of Japan (BoJ) announced on Tuesday that it increased the short-term interest rate by 25 basis points (bps) to 1% after concluding the two-day monetary policy review meeting, as anticipated. One member of the board voted against this decision and the BoJ said in its policy statement that they "will continue to raise policy rate in response to developments in economic activity, prices, financial conditions." BoJ Deputy Governor Shinichi Uchida explained in the post-meeting press conference that that the risk of significant economic slowdown appears to have decreased compared with a while ago. USD/JPY stays relatively quiet and moves sideways above 160.00 in the European session on Tuesday.
EUR/USD stays in a consolidation phase below 1.1600 after posting marginal gains on Monday.
GBP/USD climbed to a fresh 10-day high above 1.3450 on Monday but erased its daily gains to close virtually unchanged. The pair edges slightly lower in the European morning on Tuesday and trades at around 1.3400.
Gold benefited from improving risk mood and rose more than 2% on Monday. XAU/USD clings to small gains above $4,300 but struggles to gather bullish momentum on Tuesday.
Central banks FAQs
Central Banks have a key mandate which is making sure that there is price stability in a country or region. Economies are constantly facing inflation or deflation when prices for certain goods and services are fluctuating. Constant rising prices for the same goods means inflation, constant lowered prices for the same goods means deflation. It is the task of the central bank to keep the demand in line by tweaking its policy rate. For the biggest central banks like the US Federal Reserve (Fed), the European Central Bank (ECB) or the Bank of England (BoE), the mandate is to keep inflation close to 2%.
A central bank has one important tool at its disposal to get inflation higher or lower, and that is by tweaking its benchmark policy rate, commonly known as interest rate. On pre-communicated moments, the central bank will issue a statement with its policy rate and provide additional reasoning on why it is either remaining or changing (cutting or hiking) it. Local banks will adjust their savings and lending rates accordingly, which in turn will make it either harder or easier for people to earn on their savings or for companies to take out loans and make investments in their businesses. When the central bank hikes interest rates substantially, this is called monetary tightening. When it is cutting its benchmark rate, it is called monetary easing.
A central bank is often politically independent. Members of the central bank policy board are passing through a series of panels and hearings before being appointed to a policy board seat. Each member in that board often has a certain conviction on how the central bank should control inflation and the subsequent monetary policy. Members that want a very loose monetary policy, with low rates and cheap lending, to boost the economy substantially while being content to see inflation slightly above 2%, are called ‘doves’. Members that rather want to see higher rates to reward savings and want to keep a lit on inflation at all time are called ‘hawks’ and will not rest until inflation is at or just below 2%.
Normally, there is a chairman or president who leads each meeting, needs to create a consensus between the hawks or doves and has his or her final say when it would come down to a vote split to avoid a 50-50 tie on whether the current policy should be adjusted. The chairman will deliver speeches which often can be followed live, where the current monetary stance and outlook is being communicated. A central bank will try to push forward its monetary policy without triggering violent swings in rates, equities, or its currency. All members of the central bank will channel their stance toward the markets in advance of a policy meeting event. A few days before a policy meeting takes place until the new policy has been communicated, members are forbidden to talk publicly. This is called the blackout period.
يعتمد أكثر من مليون مستخدم على FXStreet للحصول على بيانات سوقية لحظية، وأدوات رسوم بيانية، ورؤى خبراء، وأخبار الفوركس. يساعد تقويمهم الاقتصادي الشامل والندوات التعليمية عبر الويب المتداولين على البقاء على اطلاع واتخاذ قرارات محسوبة. لدى FXStreet فريق يضم حوالي 60 محترفًا موزعين بين مقر برشلونة ومناطق عالمية مختلفة.
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