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Traders trim bets on BoE easing favouring just one rate cut in 2025

European indices open slightly lower with hot UK inflation likely weighing

What are the main events for today?

Japan’s super-long bond yields continue to surge to record highs

FX option expiries for 21 May 10am New York cut

US politics – tentative deal for $40,000 SALT deduction reached

ICYMI – Moody’s US downgrade sparks concern among Hong Kong pension funds

G7 weighs joint tariffs on low-value Chinese imports amid overcapacity concerns

USD weakness extends

Morgan Stanley raises China GDP forecast to 4.5% for 2025 amid easing trade tensions

ForexLive Asia-Pacific FX news wrap: Oil spike on talk of Israel preparing attack on Iran

New Zealand April exports higher than in March: NZD7.84bn vs 7.41bn