MUFG’s Lloyd Chan notes USD/JPY is trading close to its 2024 highs as resilient US data and elevated US yields underpin Dollar carry appeal.

The AUD/USD pair trades marginally lower to near 0.6890 during the European trading session on Thursday.

Commerzbank’s Volkmar Baur says recent Australian labor market and inflation data provided little new momentum for the Australian Dollar (AUD) and support the view that the Reserve Bank of Australia (RBA) is unlikely to hike again this year.

Silver (XAG/USD) posts moderate losses on Thursday, trading at seven-month lows around $57.00 at the time of writing, after a nearly 12% sell-off in the previous two days.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note EUR/USD’s slide extended to 1.1324 before a rebound, with the pair now seen consolidating between 1.1330 and 1.1385 in the very near term.

The EUR/GBP cross declines to around 0.8620 during the early European trading hours on Thursday. Dovish remarks from the European Central Bank (ECB) policymakers weigh on the Euro (EUR) against the British Pound (GBP).

NZD/USD remains weaker for the seventh successive day, trading around 0.5650 during the Asian hours on Thursday. Technical analysis of the daily chart suggests the spot price is moving downwards within the descending channel, reflecting a persistent bearish bias.

The Indian Rupee (INR) opens on a strong note against the US Dollar (USD) on Thursday. The USD/INR pair declines to near 94.30 as the Indian currency strengthens due to a further decline in oil prices.

The USD/CAD pair enters a bullish consolidation phase during the Asian session on Thursday and currently trades around the 1.4230-1.4225 region, just below its highest level since April 2025 touched the previous day.

The USD/JPY pair edges lower during the Asian session on Thursday, albeit it lacks follow-through and finds support ahead of the 161.50 level.

The EUR/USD pair trades in positive territory around 1.1370 during the early European session on Thursday. A surprisingly hawkish message from Kevin Warsh as the new Federal Reserve (Fed) chair last week has traders pricing a US hike as soon as September.

EUR/JPY pares its daily losses, remaining in the negative territory and trading around 183.80 during the Asian hours on Thursday.

XAG/USD depreciates for the third successive day, trading around $56.90 per troy ounce during the Asian hours on Thursday. Silver price is facing steady headwinds as market expectations shift toward tighter monetary policy from the Federal Reserve (Fed).

The GBP/USD pair recovers some lost ground to near 1.3175 during the Asian trading hours on Thursday. However, the potential upside for the major pair might be limited amid UK political instability and rising expectations of US interest rate hikes this year.

AUD/USD continues its losing streak for the eighth consecutive day, trading around 0.6900 during the Asian hours on Thursday. The pair remains subdued as the Australian Dollar (AUD) holds losses following the release of domestic labor market data.

The AUD/JPY cross attracts some sellers following the release of the latest Australian employment details and slides closer to its lowest level since late April, touched the previous day.

USD/CAD halts its winning streak that began on June 10, trading around 1.4230 during the Asian hours on Thursday. The currency pair depreciate as the US Dollar (USD) declines despite rising market expectations of Federal Reserve (Fed) interest rate hikes later this year.

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Thursday at 6.8209 compared to the previous day's fix of 6.8195 and 6.8048 Reuters estimate.

The NZD/USD pair attracts sellers for the seventh straight day and drifts back closer to its lowest level since November 25, set the previous day. Spot prices currently trade around the 0.5640-0.5635 region and seem vulnerable amid a bullish US Dollar (USD).

The USD/JPY pair trades on a flat note near a multi-decade highof around 161.75 during the early Asian trading hours on Thursday. The potential upside for the pair might be limited amid heavy speculation of imminent currency intervention from Japanese authorities. 

The EUR/USD pair declines to around 1.1355 during the early Asian trading hours on Thursday. The Euro (EUR) weakens to its lowest level since June 2025 against the US Dollar (USD) as traders increase their bets on US interest rate hikes later this year.

The Euro retreated on Wednesday against the Japanese Yen, down 0.08% amid growing speculation that Japanese authorities may intervene in the foreign exchange markets and also inflation in the producer side in Japan, exceeded estimates above the 3% threshold.

GBP/USD spent Wednesday confirming what the daily chart has signalled for a week, that the Pound's attempted recovery has run out of road. Cable drifted lower through the session to a low just under 1.3150 before clawing back a little into the close, settling just above fresh lows for the move.

USD/JPY spent Wednesday grinding higher again, which by rights should not be happening. The Bank of Japan (BoJ) raised its policy rate only last week, and a hike is meant to put a floor under a currency, not watch it slide toward generational lows.

Societe Generale’s Emerging Markets (EM) strategists say the Brazilian central bank, Banco Central do Brasil (BCB) minutes support an easing cycle with pauses to guide inflation back to 3% by 1Q28, leaving USD/BRL approaching its 200‑day moving average at 5.25.

Scotiabank strategists Shaun Osborne and Eric Theoret note the Japanese Yen (JPY) is only fractionally weaker versus the Dollar (USD) but is outperforming across G10 crosses, reflecting market caution over potential official intervention.

The GBP/JPY cross came under pressure near the 213.00 level on Wednesday as the British Pound weakened after United Kingdom (UK) Prime Minister Keir Starmer announced he would stand down as Labour Party leader and Prime Minister.

USD/CAD climbs to fresh highs since April 2025 on Wednesday as the Canadian Dollar (CAD) faces a double blow from a stronger US Dollar (USD) and weaker Oil prices.

The Swiss Franc (CHF) slides to its weakest level in more than ten months on Wednesday as hawkish Federal Reserve (Fed) outlook boosts the US Dollar (USD). At the time of writing, USD/CHF trades around 0.8126, extending its gains for a sixth consecutive day.

The Japanese Yen registers minimal losses against the US Dollar amid mixed risk appetite, with global equities fluctuating between gainers and losers, while investors continue to monitor developments in the Middle East.