Published: 2025-06-09T19:55:21.000Z
North American Summary and Highlights 9 Jun
Senior Economist , North America
11
Overview - The USD had a mostly softer tone, a recovery in early North American trade fading in a day of limited news.
European and North American sessions
In a day of limited news, the USD opened Europe under some pressure, but USD/JPY bound a base below 144 while EUR/USD peaked at 1.1439. USD/JPY subsequently rebounded to 144.75 and EUR/USD fell below 1.14, but a softer USD tone retuned with the assistance of a New York Fed survey showing inflation expectations slipped in May. EUR/USD returned to 1.1425 but USD/JPY held up around 144.50.
USD/CAD saw a spike above both Asian highs and 1.37 though the move was mostly reversed. Canadian Prime Minister Carney stated Canada would rase defence spending to 2% of GDP. AUD/USD remained firm, holding above .65. Late in the day Trump expressed some optimism over trade talks with China, but provided little detail.