Treasury

EUR/USD
The Shared currency gained traction to $1.0571 on fears the U.S. economy could slide into recession after Federal Reserve Chair Jerome Powell said higher rates are painful but are the means the U.S. central bank has to slow inflation.

GBP/USD
The Cable rose to $1.2260 after British consumer price inflation hit a 40-year high at 9.1% as per the market's expectations.

USD/JPY
The Japanese yen shot up to 135.58 per U.S dollar as attention once again turns towards the second day of Powell’s testimony for further clarity on the rate hike track.

AUD/USD
The Aussie dollar lost steam to $0.6898 and was unable to capitalize on the expectations that the RBA will deliver bigger and more rapid rate increases.

USD/CAD
The Loonie firmed at 1.2951 against the U.S dollar despite WTI crude oil remained pressured around monthly low amid chatters over gas tax holiday.

USD/ZAR
South Africa's rand strengthened to 15.90 after a bigger-than-expected inflation spike in May raised concerns the Reserve Bank may continue to tighten its policy.

USD/MUR
The dollar-rupee stayed put at 40 cents to 44.90 (Selling).