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The Fed held rates with three dissenters seeking a hike, Australian inflation slowed and MAS tightened as the Bank of England and Bank of Japan decisions approached.
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The New Zealand dollar led July’s G10 gains after an RBNZ rate hike, while softer U.S. inflation weighed on the dollar and left the euro at the bottom of the major-currency table.
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President Trump has raised U.S. tariffs to an average of 15.2%, targeting Canada, Asia, and Europe, as part of his push to reshape global trade. Markets and currencies reacted with caution amid rising uncertainty.
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