The Canadian dollar edged lower against its U.S. counterpart, but the loonie declined less than the other Group of 10 currencies as domestic inflation data reduced expectations for Bank of Canada interest rate cuts.
U.S. consumer prices increased by the most in five months in June amid higher costs for some goods, suggesting tariffs were starting to have an impact on inflation and potentially keeping the Federal Reserve on the sidelines until September.
BlackRock, the world’s largest asset manager with $11.5 trillion in assets under management, reported a massive increase in cryptocurrency fund inflows in the second quarter of 2025. Q2 inflows into its crypto iShares ETFs surged 366% to $14 billion, up from $3 billion in the previous quarter.
Mark Zuckerberg is expected to appear as a star witness in an unusual $8 billion trial that kicks off this week at which the Meta CEO is accused of operating Facebook as an illegal enterprise that allowed users’ data to be harvested without their consent.
The pound fell, under broad pressure from investor worries about the impact on growth from Trump’s escalating trade war. Sterling fell against the euro even after Trump warned he would slap a 30% tariff on goods imports from the European Union.
The UK’s FTSE 100 closed at a fresh record high as investors grew hopeful of future interest rate cuts by the Bank of England, while AstraZeneca’s shares gained following positive drug trial results.
