Currencies

Asian currencies weakened on Wednesday as the U.S. dollar stabilized near three-year lows, driven by market attention on the Federal Reserve’s potential rate cuts and U.S. trade policy deadlines. The dollar’s gains were limited by rising expectations that the Fed may cut interest rates by September. Treasury Secretary Scott Bessent and Goldman Sachs both anticipate a rate reduction, while the CME FedWatch tool shows a 73.2% probability of a 25 basis point cut. However, Fed Chair Jerome Powell remains cautious, citing inflationary uncertainty from President Trump’s trade tariffs. The Japanese...

Pi Network (PI) recovers by 1% at press time on Wednesday after six consecutive bearish candles. The technical outlook indicates a bearish inclination in the days leading up to July’s biggest token unlock, while sentiments remain muted following the Pi2Day announcements.  Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are showing signs of weakness mid-week as bullish momentum continues to fade. BTC extends its decline to trade below $106,000, while ETH and XRP slip below their key support levels, raising concerns of a deeper correction on the horizon. If BTC continues to face a pullback...