China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Yen Sinks as BOJ Rate Hike Fails to Impress Markets 
Global Central Banks Brace for More Rate Hikes as Inflation Risks Rise 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Japanese Yen Retreats as Dollar Rises Ahead of Fed, BOJ Rate Decisions 
BOJ Flags Import Costs and Yen Shocks as Persistent Inflation Risks 
RBA Says ASX Still Falls Short on Governance and Risk Controls 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
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The ECB's outlook for higher inflation is threatened by a renewed trend higher in the effective EUR, which, when considering the 3M change, is at the highest rate in more than two years.
The upward pressure on the EUR has strengthened after People's Bank of China has joined the global currency war and together with an expected later lift-off from the Fed, there is pressure on the ECB to express a dovish stance with the aim of weakening the exchange rate. The ECB's new inflation projection will not include the latest strengthening of the EUR in the second half of August and overall the exchange rates will not change the updated forecast for inflation significantly, says Danske Bank.
