FX Morning Update

Latest edition · July 14, 2026

GS FX Morning Update 14-Jul

The report provides a daily update on global FX markets, highlighting USD strength amid hawkish Fed rhetoric, RBNZ hawkishness impacting NZD, and Korean FX stabilization measures.

Goldman Sachs reviews global FX conditions as of July 14, 2026, noting that the USD has strengthened on risk-off sentiment and hawkish Fed commentary. The report highlights RBNZ hawkishness as a catalyst for NZD strength and details South Korea’s new FX stabilization measures intended to manage 'triple high' risks. Traders remain cautious ahead of US CPI data, opting against chasing recent USD moves.

Key takeaways from the latest edition

• 1.The USD strengthened on hawkish Fed rhetoric, though traders are hesitant to chase pre-CPI data.
• 2.RBNZ hawkishness has driven significant NZD outperformance against the AUD.
• 3.South Korean authorities announced measures to stabilize FX markets alongside expected equity-related USD supply.

What this series covers

• USD: Limited Appetite To Chase Pre-CPI
• JPY: Further Political Comments – Greater JGB Reaction
• NZD: Hawkish RBNZ Comments
• G10 Central Bank Pricing
• KRW: Further FX Outperformance – Mainly (But Not All) Technical
• Meme Of The Day

Edition archive

• GS FX Morning Update 14-Jul

  July 14, 2026

• GS FX Morning Update 04-Jun

  June 4, 2026

• GS FX Morning Update 27-May

  May 27, 2026

• GS FX Morning Update 22-May

  May 22, 2026

• GS FX Morning Update 21-May

  May 21, 2026

• GS FX Morning Update 14-May

  May 14, 2026