EUR/JPY depreciates after two days of gains, trading around 186.40 during European hours on Tuesday. The technical analysis of the daily chart indicates the currency cross slips below the ascending channel, signaling a possible bearish reversal.

The USD/JPY pair attracts some intraday selling after the Bank of Japan (BoJ) announced its policy decision and touches a one-week low earlier this Tuesday.

The EUR/GBP cross trades on a flat note near 0.8660 during the early European trading hours on Tuesday. Traders prefer to wait on the sidelines ahead of the Bank of England (BoE) and the European Central Bank (ECB) interest rate decisions later on Thursday. 

Silver (XAG/USD) accelerated its downtrend on Tuesday, to hit fresh two-week lows at $73.35 at the time of writing, as markets shift focus from the war to the world’s major central banks, which will release their monetary policy decisions this week.

UOB’s strategists Quek Ser Leang and Lee Sue Ann highlight that EUR/USD briefly overshot to 1.1754 before closing unchanged near 1.1720, reinforcing a range-trading bias. Intraday, the Euro (EUR) is seen holding between 1.1695 and 1.1745.

Commerzbank’s Volkmar Baur highlights that the Bank of Japan kept its policy rate at 0.75%, but sent a clear signal it is ready to hike soon, likely at the June meeting.

The Australian Dollar (AUD) demonstrated a mixed performance against its major currency peers, trading marginally lower against the US Dollar (USD) around 0.7180 during the European trading session on Tuesday.

The Indian Rupee (INR) weakens further after a brief pause against the US Dollar (USD) in the opening session on Tuesday. The USD/INR pair jumps to near 94.46 as elevated oil prices continue to hurt the Indian Rupee.

The USD/CAD pair posts modest gains near 1.3635 during the early European trading hours on Tuesday. Uncertainty over US-Iran peace talks and the closure of the Strait of Hormuz provide some support to a safe-haven currency such as the US Dollar (USD) against the Canadian Dollar (CAD). 

GBP/USD steadies for the second successive day, trading around 1.3530 during the Asian hours on Tuesday. The technical analysis of the daily chart indicates an ongoing bullish bias as the pair moves sideways within the ascending channel pattern.

The NZD/USD pair struggles to capitalize on its strong gains registered over the past two days and attracts some sellers during the Asian session on Tuesday.

The USD/CHF pair gathers strength near 0.7865 during the early European session on Tuesday. The US Dollar (USD) edges higher against the Swiss Franc (CHF) due to the stalled US-Iran ceasefire and the closure of the Strait of Hormuz.

The EUR/USD pair trades with a mild negative bias during the Asian session on Tuesday and looks to extend the previous day's retracement slide from levels just above mid-1.1700s.

The GBP/JPY cross attracts some sellers during the Asian session on Tuesday and, for now, seems to have snapped a two-day winning streak to its highest level since January 2008, just above the 216.00 mark touched the previous day.

EUR/JPY remains subdued after two days of gains, trading around 186.40 during the Asian hours on Tuesday. The currency cross holds losses following the release of the Bank of Japan (BoJ) policy decision.

The AUD/JPY cross declines to near 114.30 during the Asian trading hours on Tuesday. The Japanese Yen (JPY) strengthens against the Australian Dollar (AUD) after the Bank of Japan's (BoJ) interest rate decision.

The Japanese Yen (JPY) attracts bids against its major currency peers, with the USD/JPY pair sliding to near 159.25, after the Bank of Japan’s (BoJ) monetary policy announcement. The BoJ has left interest rates unchanged at 0.75% for the third meeting in a row.

Silver price (XAG/USD) falls around 1.5%, trading around $74.40 per troy ounce during the Asian hours on Tuesday. The non-yielding metal declines as the US–Iran conflict fuels an energy-driven inflation shock, raising expectations of prolonged or tighter central banks’ policy.

The USD/CAD pair reverses a modest Asian session dip on Tuesday and looks to build on the previous day's modest rebound from sub-1.3600 levels, or the lowest since March 12.

The GBP/USD pair trades in negative territory around 1.3525 during the early Asian session on Tuesday. The Pound Sterling (GBP) softens against the US Dollar (USD) as traders prefer to wait on the sidelines ahead of the Federal Reserve (Fed) and the Bank of England (BoE) later this week. 

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Tuesday at 6.8589 compared to the previous day's fix of 6.8579 and 6.8282 Reuters estimate.

The USD/JPY pair is seen consolidating in a narrow band around mid-159.00s during the Asian session on Tuesday as traders opt to wait for the crucial Bank of Japan (BoJ) before placing fresh directional bets.

AUD/USD extends its gains for the third consecutive day, trading around 0.7190 during the Asian hours on Monday. The pair holds gains as the Australian Dollar (AUD) receives support, rising expectations of the Reserve Bank of Australia’s (RBA) rate hikes.

The EUR/USD pair trades with mild gains around 1.1725 during the early Asian session on Tuesday. However, the potential upside might be limited as market sentiment remains fragile due to stalled US-Iran peace talks.

GBP/USD ended Monday largely unchanged from Friday's closing bids close to 1.3535, with the pair drifting in a tight range through the European and US sessions.

The NZD/USD pair is trading with a firmer tone on Tuesday, hovering near the 0.5910 region as the US Dollar (USD) struggles to extend its recent strength.

NZD/USD posted limited gains of around 0.4% on Monday, settling close to 0.5905 but stalling just below the 0.5925 area that capped last week's recovery.

USD/JPY ended Monday largely unchanged from Friday's closing bids near 159.40, oscillating in a tight 75-pip range between 159.10 and 159.85. The session produced a cluster of small-bodied candles reflecting indecision ahead of Tuesday's Bank of Japan (BoJ) decision.

The Australian Dollar soars some 0.53% on Monday, with the Greenback staying firm amid uncertainty regarding the outcome of the US-Iran conflict as Washington reviews Tehran’s last proposal to end the war. At the time of writing, the AUD/USD trades at 0.7185 after bouncing off daily lows of 0.7125.

USD/CHF edges modestly up some 0.15% as the Greenback bounces from its daily lows as risk appetite improves during the North American session. At the time of writing, the pair exchanges hands at 0.7854.