Silver (XAG/USD) trades in a narrow range on Monday as geopolitical tensions in the Middle East keep markets on edge, while traders refrain from placing aggressive directional bets amid conflicting headlines over efforts to end the US-Iran war.

The British Pound advanced by over 0.40% on Monday as US President Donald Trump extended Iran’s ultimatum until April 7, while rumours of a possible de-escalation weighed on the American Dollar. The GBP/USD trades around the 1.3240 figure at the time of writing.

The Canadian Dollar (CAD) gains traction against the US Dollar (USD) on Monday as traders react to evolving geopolitical developments in the US-Iran war. At the time of writing, USD/CAD is trading around 1.1315, hovering near four-month highs.

The EUR/USD pair is trading near the 1.1570 price zone on Monday as the US Dollar (USD) loses momentum amid relative easing concerns about the Iran war.

BNY’s Bob Savage focuses on rising FX intervention and fragile sentiment in Asia-Pacific (APAC) as higher Oil and geopolitical risks pressure regional currencies.

USD/JPY trades with a slightly softer tone on Monday as the Japanese Yen (JPY) finds modest support as the US Dollar (USD) weakens broadly, with traders assessing fresh geopolitical developments, including reports of potential ceasefire talks between the United States and Iran.

EUR/GBP trades with a negative bias on Monday as diplomatic efforts to end the US-Iran war lift market sentiment and support risk-sensitive currencies, with the British Pound (GBP) relatively outperforming the Euro (EUR).

The Pound (GBP) is trading higher against the Japanese Yen (JPY) on Monday, favoured by a moderate optimism amid news of a peace plan to end the war in Iran.

BNY’s Head of Markets Macro Strategy Bob Savage notes the Japanese Yen continues to weaken with USD/JPY near 160 as JGB yields hit multi‑decade highs and the Bank of Japan (BoJ) maintains a hiking bias.

The Euro (EUR) is trading higher against the US Dollar (USD) on Monday, favoured by a moderate improvement in market sentiment, amid news of a potential ceasefire in the Iran war.

The AUD/USD pair trades 0.5% higher to near 0.6930 during the European trading session on Monday. The Aussie pair strengthens as riskier assets trade firmly amid ongoing discussions between the United States (US) and Iran regarding an end to the Middle East war.

Silver price (XAG/USD) holds gains after recovering daily losses, trading around $73.30 per troy ounce during the European hours on Monday.

The New Zealand Dollar (NZD) is capitalising on a moderate US Dollar (USD) weakness on a calm trading session, with most markets closed on Easter Monday.

The Pound Sterling attracts significant bids against the US Dollar (USD) on Monday, rising 0.45% to near 1.3255 during the European trading session.

USD/CAD depreciates as the US Dollar (USD) eases amid improved market sentiment following the reports, suggesting prospects for a ceasefire in the Middle East. The pair trades around 1.3920 during the European hours on Monday.

The US Dollar (USD) nudges lower against the Japanese Yen (JPY) on Monday, with trading volumes at low levels as most markets remain closed on Easter Monday. The pair hit session lows at 159.35 on the early European session, as hopes of a peace deal in Iran are putting the US Dollar under pressure.

The EUR/USD pair trades 0.4% higher to near 1.1560 during the European trading session on Monday.

EUR/JPY recovers its recent losses from the previous trading day, hovering around 184.40 during the European hours on Monday. The technical analysis of the daily chart suggests the currency cross is moving sideways within an ascending triangle pattern, indicating consolidation.

The AUD/USD pair gathers strength around 0.6910 during the early European trading hours on Monday. Hopes for a US-Iran ceasefire provide some support to the riskier asset, such as the Australian Dollar (AUD) against the Greenback.

The GBP/JPY pair trades almost flat at around 210.85 during the early European trading session on Monday.

The Euro (EUR) is trading lower against the British Pound (GBP) on a calm week opening, with most markets closed on Easter Monday, and markets wary of risk, amid greater concerns about an escalation of the war in Iran.

The NZD/USD pair attracts some buyers near the 0.5680 region, or over a four-month trough retested during the Asian session on Monday, and for now, seems to have snapped a two-day losing streak.

The USD/CAD pair declines to around 1.3940 during the early European trading hours on Monday.

The Indian Rupee (INR) falls after a flat opening against the US Dollar (USD) at the start of the Reserve Bank of India’s (RBI) monetary policy week.

USD/CHF extends its winning streak for the third consecutive day, trading around 0.8010 during the Asian hours on Monday. The pair appreciated as the US Dollar (USD) gained ground amid increased safe-haven demand on heightened uncertainty in the Middle East.

The GBP/USD pair attracts some dip-buyers near the 1.3175 region during the Asian session on Monday, and for now, seems to have snapped a two-day losing streak.

The EUR/USD pair posts modest gains near 1.1520 during the early European session on Monday. The Euro (EUR) strengthens against the Greenback amid optimism about the US-Iran ceasefire. The US March ISM Services Purchasing Managers Index (PMI) report is due later on Monday. 

AUD/USD holds gains after two days of losses, trading around 0.6910 during the Asian hours on Monday.

The USD/JPY pair trades marginally down at around 159.55 during the Asian trading session on Monday.

EUR/JPY moves little after registering modest losses in the previous trading day, hovering around 183.80 during the Asian hours on Monday.