The NZD/USD pair fell to the 0.5800 region, remaining under pressure as the US Dollar (USD) stays firm amid geopolitical uncertainty and elevated yields.

The USD/CHF advances for the second day of the week, up by nearly 0.45% after bouncing off the 100-day Simple Moving Average (SMA), slightly above the 0.7900 figure. At the time of writing, the pair trades at 0.7915 as the US Dollar remains boosted by geopolitical uncertainty.

NZD/USD trades lower on Wednesday around 0.5820, down 0.22% on the day, extending its decline for a second straight day. The downside move is mainly driven by the strength of the US Dollar (USD), supported by a broader risk-off environment.

USD/CAD edges higher on Wednesday, extending gains for a second straight session as a broadly stronger US Dollar (USD) keeps the Canadian Dollar (CAD) under sustained pressure.

Silver (XAG/USD) pauses its intraday advance on Wednesday, consolidating below the daily high as initial optimism around US-Iran ceasefire efforts fades following Iran’s response.

The AUD/USD pair fell to near the 0.6960 price zone amid mixed Australian inflation data and shifting global risk sentiment, keeping traders cautious.

The Pound Sterling reverses course on Wednesday as the Greenback edges higher on the day as risk appetite deteriorates following news reports that Iran's nuclear Bushehr power plant was hit, according to Press TV.

The Euro (EUR) trades under pressure against the US Dollar (USD) on Wednesday, as the Greenback remains well supported amid conflicting headlines surrounding US-Iran ceasefire efforts.

Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is drifting lower as positive US Dollar momentum pulls USD/CAD away from their fair value estimate.

BNY’s Head of Markets Macro Strategy Bob Savage reports that the Euro faces conflicting forces as ECB President Christine Lagarde warns of potential forceful tightening if energy-driven inflation persists, while growth risks rise.

GBP/JPY trades within a tight range on Wednesday, with choppy price action as ongoing developments in the US-Israel war with Iran continue to drive volatility across the FX space, while traders show limited reaction to recent economic data.

USD/JPY trades around 159.00 on Wednesday at the time of writing, up 0.18% on the day. The pair continues to draw support from sustained demand for the US Dollar (USD) in an environment marked by persistent geopolitical uncertainty.

Brown Brothers Harriman’s (BBH) Elias Haddad highlights that AUD/USD is trading near the lower end of its recent 0.6900–0.7200 range. February inflation was slightly softer than expected, but Haddad expects Australian price pressures to accelerate as higher energy costs feed through.

Brown Brothers Harriman’s (BBH) Elias Haddad notes GBP/USD is challenging resistance at its 200-day moving average near 1.3434 as UK inflation remains well above the Bank of England's (BoE) 2% target.

BNY’s Head of Markets Macro Strategy Bob Savage highlights stronger Japanese activity data, with the Economic Trend Index and machine tool orders pointing to a bottoming-out in growth.

EUR/GBP trades around 0.8650 on Wednesday, slightly lower on the day, as investors weigh rising inflation risks in the Eurozone against mixed macroeconomic signals from the United Kingdom (UK) and Germany.

Commerzbank’s Dr. Henry Hao and Moses Lim note India's flash March PMIs point to growth moderation rather than a sharp slowdown, as manufacturing softens but external demand stays resilient.

The EUR/USD pair trades broadly sideways around 1.1600 during the European trading session on Wednesday. The major currency pair consolidates as investors await Iran’s response to United States (US) President Donald Trump’s proposals of a month-long ceasefire and 15-point settlement plan.

Societe Generale analysts highlight USD/JPY pressing the upper end of its multi-year range, with resistance at 159.90 and key support at the 50-day moving average near 156.50.

The USD/CHF pair trades in a tight range around 0.7900 during the European trading session on Wednesday. The Swiss Franc pair trades calmly as the US Dollar (USD) turns sideways, with investors awaiting the response from Iran over United States (US) President Donald Trump’s 15-point settlement plan.

Nordea’s Chief Analyst Torbjörn Isaksson reports that Swedish producer and import prices for consumption goods remained weak in February, with domestic supply prices excluding energy falling 0.2% on the month and staying negative year-on-year.

AUD/USD extends its losses for the second successive day, trading around 0.6980 during the European hours on Wednesday. The pair stays under pressure as the Australian Dollar (AUD) weakens following the latest domestic inflation data release.

Germany IFO – Business Climate came in at 86.4, above expectations (86.1) in March

Germany IFO – Expectations in line with forecasts (86) in March

Germany IFO – Current Assessment came in at 86.7, above forecasts (86) in March

Germany IFO – Business Climate came in at 88.6, above expectations (86.1) in March

Switzerland ZEW Survey – Expectations fell from previous 9.8 to -35 in March

Commerzbank’s Thu Lan Nguyen notes that EUR/USD has rebounded about two cents from its recent low near 1.14, driven mainly by Euro strength while the Dollar trades sideways.

OCBC strategists Sim Moh Siong and Christopher Wong highlight that rising Oil prices are worsening Japan’s terms of trade, fiscal risks and policy uncertainty, keeping the Japanese Yen (JPY) under pressure.

The NZD/USD pair extends its steady descent for the second consecutive day and drops to the 0.5800 mark during the early part of the European session on Wednesday.