The Australian Dollar slipped against the US Dollar, reaching around 0.6940 (AUD/USD), amid cautious remarks from the Federal Reserve and ongoing inflation uncertainty, FX Street reported. The Fed Bank of New York President John Williams noted steady economic growth and a stable labor market, but inflation concerns continue to influence market sentiment.
Silver prices extended their decline for a second day, trading near $60.70 per ounce, down 2.21% on the day, reflecting risk-off sentiment. Meanwhile, US inflation expectations edged up, with the New York Fed survey showing one-year inflation expectations rising from 3.5% in May to 3.7% in June—the highest since September 2023.
In currency markets, the USD/CHF pair held modest gains around 0.8066, supported by a hawkish Fed outlook combined with softer US labor data. For Japanese investors, these developments underline the ongoing volatility in FX and commodities markets amid shifting US monetary policy signals and inflation trends.