Emerging-market currencies have given back their year-to-date gains as traders price a higher US rate path and a firmer dollar. The MSCI EM currency index fell 0.2%, leaving it roughly flat YTD and tracking toward its lowest close since April 7. Markets are increasingly pricing a hawkish shift at the Fed; a Fed official is scheduled to speak later today at the ECB Sintra forum alongside European and UK peers. Asian currencies led declines: the won fell to its weakest since 2009 after foreign inv

Fed policymaker Hammack said central bank officials must remain transparent about their reaction function.

The U.S. Department of Labor Inspector General said in a report that, despite measures taken after several 2024 incidents, the Bureau of Labor Statistics still needs stronger data protections to prevent improper disclosure of key economic releases. The audit reviewed three separate events — an early release of CPI, a delayed employment report, and statistical-methods disclosures limited to a handful of people — and said the BLS patched IT vulnerabilities, revised performance standards, increased oversight, updated policies and provided training, but additional improvements are required to reduce the risk of future leaks.