Emerging market currencies like South African rand (ZAR), Turkish lira (TRY) or Polish zloty (PLN) had very turbulent summer as deteriorating global outlook and tensions around China drew capital outflows. However, hopes that Hong Kong protests may cease and US data suggesting that manufacturing is being hurt by the strong dollar leads to a strong recovery today. USDZAR is plunging by 1.4%, followed by USDTRY, USDMXN (both -0.8%) and USDHUF (-0.7%).
Goldman Sachs turns even more bearish on yen 📉
Chart of the Day: USDJPY – a change in trend? (03.07.2026)
Economic Calendar: What are markets focusing on after NFP? (03.07.2026)
NFP triggers a dollar sell-off – key takeaways from the June report