The NZD/USD pair jumps to around 0.5910, the highest since September 17, 2025, during the early Asian session on Friday. The New Zealand Dollar (NZD) strengthens against the US Dollar (USD) after the hotter-than-expected inflation report.

The GBP/JPY rallies to a new weekly high of 213.98, up by more than 1.10% in the week, as mixed economic data from the UK, pushed the British Pound higher. Fiscal concerns on PM Takaichi’s plan, undermined the Japanese Yen. The cross-pair trades at 213.85, up 0.58%.

EUR/USD climbs for the second day in the week up by over 0.50% as the Dollar slides despite solid US economic data was released in the day. An improvement in risk appetite sponsored by US President Donald Trump dropping tariffs threats on Europe, underpins the shared currency.

The Japanese Yen (JPY) regains some ground against the US Dollar (USD) on Thursday, with USD/JPY edging lower amid broad weakness in the Greenback. At the time of writing, the pair is trading around 158.30, retreating from one-week highs touched earlier in the European session.

The Euro (EUR) edges higher against the US Dollar (USD) on Thursday, supported by a broadly weaker Greenback as traders shrug off solid US economic data. At the time of writing, EUR/USD is trading around 1.1742, reversing the previous day’s losses.

GBP/USD rises during the North American session amid an improvement of risk appetite, following a de-escalation of the trade-war between the US and Europe. Meanwhile, traders shrug off strong US data, which despite signaling the strength of the economy, failed to underpin the Dollar.

The Japanese Yen (JPY) is soft, down 0.2% vs. the US Dollar (USD) and an underperformer against all of the G10 currencies as we head into Thursday’s NA session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Pound Sterling (GBP) is slightly weaker against the dollar, underperforming most G10 peers as renewed political uncertainty triggers brief volatility in the gilt market, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Euro (EUR) is consolidating within an incredibly tight range and entering Thursday’s NA session flat to the US Dollar (USD), a mid-performer among the G10 currencies in mixed overall trade, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Canadian Dollar (CAD) is all but flat on the session. Markets may refocus on underlying fundamentals for a moment but broader geo-political tensions remain a risk for the CAD going forward, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The British Pound (GBP) trades on the front foot against the Japanese Yen (JPY) on Thursday, as the Yen remains under broad pressure amid growing concerns over Japan’s fiscal stability, while markets brace for the Bank of Japan’s (BoJ) interest rate decision due on Friday.

The Euro is drawing support from a weaker Yen to reverse Wednesday’s losses and hit fresh highs at 185.75 on Thursday’s European trading session.

The Australian Dollar (AUD) has been the top G10 performer overnight, boosted by a robust December jobs report showing 65.2k positions added and unemployment falling to 4.1%, alongside improved global risk sentiment, MUFG's FX analyst Lee Hardman reports.

The Australian Dollar (AUD) is outperforming, with AUD/USD breaking above 0.6800 after a robust December jobs report showing 65.2k positions added and the unemployment rate falling to 4.1%, BBH FX analysts report, BBH FX analysts report.

US Dollar (USD) recovered some of this week’s losses mostly versus Japanese Yen (JPY) and Euro (EUR). Cyclical-sensitive currencies are outperforming, led by Australian Dollar (AUD). Global equity markets are up, bond markets are steady, and gold is firm near record highs.

The US Dollar is trading higher across the board on Thursday, favoured by the de-escalation of the EU-US tensions.

AUD/USD has broken out of its recent range, with support around 0.6650–0.6720 holding the key for continued upward momentum, Société Générale's FX analysts note.

New Zealand’s fourth-quarter CPI is expected to hold at 3.0% year-on-year, slightly above the RBNZ’s projection and potentially reinforcing hawkish speculation, ING's FX analyst Francesco Pesole notes.

US Dollar (USD) is likely to trade in a range of 157.90/158.80. In the longer run, USD appears to have entered a consolidation phase between 157.10 and 159.10, UOB Group's FX analysts Quek Ser Leang and Lee Sue Ann note.

While strong Australian jobs data has boosted rate-hike pricing, expectations may be running ahead of inflation reality, leaving AUD/USD vulnerable in the near term even as AUD holds up well on the crosses, ING's FX analyst Francesco Pesole notes.

The Euro reversal against the British Pound seen on Wednesday, found support at a previous resistance area near 0.8790, and the pair is picking up on Thursday, favoured by an improved market sentiment, returning to levels past 0.8700 with bulls aiming for the resistance area at 0.8745.

EUR/USD is trading a few pips below the 1.1700 level at the time of writing on Thursday, practically flat on the daily chart, after pulling back from highs near 1.1770 on Tuesday.

Pound Sterling (GBP) is likely to range-trade between 1.3400 and 1.3460. In the longer run, the near-term bias is tilted to the upside, but GBP may not break above 1.3505, UOB Group's FX analysts Quek Ser Leang and Lee Sue Ann note.

The USD/CAD pair struggles to capitalize on the overnight bounce from the 1.3785 region, or the 50% Fibonacci retracement level of the December-January upswing, and trades with a negative bias for the fourth straight day on Thursday.

The Pound Sterling (GBP) trades with caution against its major currency peers, consolidating around 1.3430 against the US Dollar (USD) during the European trading session on Thursday.

The AUD/USD pair extends its winning streak for the fourth trading day on Thursday, trading 0.6% higher to near 0.6810 during the European trading session. The Aussie pair gains further as the Australian Dollar (AUD) outperforms its peers, following the release of the employment data for December.

EUR/USD has fallen back below 1.170, driven largely by renewed dollar strength as geopolitical tariff risks ease and USD bulls re-emerge, ING's FX analyst Francesco Pesole notes.

Here is what you need to know on Thursday, January 22:

Silver price (XAG/USD) recovers losses from the previous two consecutive days, trading around $94.20 per troy ounce during the European hours on Thursday.

NZD/USD extends its winning streak for the fifth consecutive session, trading around 0.5860 during the early European hours on Thursday.