FX Daily: AI Jitters Add Fuel To USD Rally (ING Bank - 24 June 2026)

Key Takeaways

• 1.Equity turmoil, particularly regarding tech and semiconductor stocks, is fueling a USD rally as investors seek safe havens.
• 2.Diverging growth expectations between the US and Europe, alongside poor German PMI data, are pressuring the Euro.
• 3.The National Bank of Hungary (NBH) has adopted a notably dovish stance, committing to a 'mini rate cut cycle'.

Table of Contents

• USD: Hard to pick a top
• EUR: Eyeing 1.130
• AUD: Hot core CPI to keep RBA communication hawkish
• HUF: NBH becoming the most dovish player

Report data

Safe havens like USD are outperforming

Reports in this series

FX Daily is shown in chronological order through this edition, published on June 24, 2026.

Part of the FX Daily series — view all 70 editions

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