Markets brace for Trump-Putin summit | FX ResearchUS Dollar vs Japanese YenBLACKBULL:USDJPYBlackBull_MarketsOn Wednesday, the US dollar ended lower, still influenced by Tuesday's mild CPI data. The market is now looking ahead to Friday's Trump–Putin summit in Alaska. Late remarks from Atlanta Fed President Bostic forecasting only one rate cut by the end of 2025 due to a solid labour market despite recent softening gave the dollar a slight lift before the close. Chicago Fed President Goolsbee echoed Bostic's view, describing the labour market as strong, highlighting a split within the Fed between proactive doves and the data-dependent majority led by Chair Powell. The Bank of Canada, meanwhile, considered a July rate cut but opted to monitor trade developments, noting that corporate absorption of tariffs has kept consumer price impacts minimal. In currency markets, the euro held firm but weakened late after Bostic's comments. The pound stayed strong against the euro ahead of Thursday's UK and Eurozone Q2 GDP data. The Japanese yen remained mixed as markets await Japan's GDP report, expecting 0.4% growth. The Mexican peso lagged emerging market peers, pressured by President Trump's aggressive stance against drug cartels, including labelling them terrorist groups, prompting Mexico to extradite 26 cartel-linked individuals to the US. Exclusive FX research from LMAX Group Market Strategist, Joel Kruger