The AUD/JPY has continued to consolidate within the 93.70–95.00 range over the past ten trading days, amid a fragile market mood driven by controversial US policies, the escalation and de-escalation of the Middle East conflict, and the approval of the US fiscal budget.
The Mexican Peso is trading with marginal gains on Friday, appreciating for the fifth consecutive day and on track to a 2.4% weekly rally as the US Dollar weakness has offset the impact of a 50 bps rate cut by the Bank of Mexico.
GBP/USD rose on Thursday, stepping into a fourth straight day of firm gains and clipping 44-month highs near 1.3770. A broad sell-off in the US Dollar is bolstering the Greenback’s major counter-currencies, helping to push Cable into its highest bids in nearly four years.