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01:21
The Australian dollar is pressured below $0.705, with the probability of another rate hike this year dropping to about 50%, as the US dollar strongly dominates the trend.
⑴ The Australian dollar remained below 0.705 US dollars, hovering near a ten-week low and is expected to post a modest weekly decline. The currency was pressured by a stronger US dollar and diminishing expectations for further rate hikes from the Reserve Bank of Australia. After the Reserve Bank of Australia kept its cash rate unchanged this week, the market increasingly believes the tightening cycle has ended, with the probability of another rate hike this year dropping to around 50%.⑵ Reserve Bank of Australia Governor Bullock maintained that further tightening may occur if inflation persists. However, the market believes that the second quarter inflation data would need to be significantly above expectations to trigger any further action. Meanwhile, the US dollar index climbed to a one-year high, and the Federal Reserve's hawkish pause prompted traders to increase bets on additional rate hikes. Nearly half of policymakers are forecasting at least one more rate increase this year due to rising inflation concerns.⑶ The temporary US-Iran peace agreement and the resumption of energy flows through the Strait of Hormuz have provided some support for the risk-sensitive Australian dollar. However, under the dominance of a strong US dollar, the Australian dollar's rebound potential remains limited. Going forward, attention will be focused on Australia's second-quarter inflation data and changes in global risk sentiment.
01:19
Goldman Sachs: The pound is currently the most overvalued currency among the G10
Since the sharp fall after Brexit, the British pound has rebounded all the way and has now become the most overvalued currency among major developed currencies. London strategist Stuart Jenkins wrote in a client report that the pound has deviated from fundamentals, stating, "The Brexit factor may have lowered the fair value of the pound by about 6%." After a significant rebound in the real exchange rate, "the pound is now the most overvalued currency within the G10." Since the UK officially left the European Union in 2020, the pound has risen about 1.5% against the US dollar, but it is still about 10% lower than its pre-referendum level. As most of the discount has been erased, some analysts believe there is limited room for further appreciation of the pound.
01:18
Ventuals: All markets will suspend trading today. All vHYPE holders are advised to withdraw as soon as possible.
Odaily reported that the previously announced Hyperliquid ecosystem project Ventuals, which is shutting down, posted on X stating that Ventuals' commodities and index markets are now frozen. The mark prices and oracle prices for each market have been set to today's regular session closing prices based on data from external exchanges, and funding rates are set to zero. All markets will be suspended for the remainder of today, and PNL (profit and loss) for all positions will be automatically settled at the final mark price. If users currently have open positions, there is no need to take any action; the system will automatically settle for you. Additionally, Ventuals advises all vHYPE holders to initiate withdrawals as soon as possible (if not completed already). 100% of vHYPE holders can expect to exchange for HYPE at a 1:1 ratio and receive all native staking rewards accumulated since deposit. All initiated withdrawals will begin batch processing at 10:00 a.m. (UTC+8) on June 19 Eastern Time, and will continue to be batch processed every 24 to 72 hours thereafter. Once processing is complete, withdrawals will become claimable after 7.5 days (including Hyperliquid's native 7-day standard unstaking period and a 12-hour cooldown period). Previously, Ventuals announced it would cease operations and merge with another team within the Hyperliquid ecosystem, with further details yet to be disclosed.
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