Tuesday handed the Pound a labour market reading that was mixed enough to satisfy nobody.

The Aussie's Tuesday slide had little to do with anything domestic.

The NZD/USD pair falls toward the 0.5830 region on Wednesday as the United States (US) Dollar (USD) strengthens following upbeat labor-market data and renewed tensions linked to Iran.

EUR/USD drops near 1.1600 on Tuesday as the Greenback recovers some ground, supported by soaring US Treasury yields, even though ECB officials opened the door to rate hikes at the June meeting. The pair trades with losses of 0.48% at the time of writing.

The Yen's slow drift back toward 160.00 has the feel of a market that has stopped waiting.

The EUR/USD pair weakens toward the 1.1600 region on Tuesday as the United States (US) Dollar (USD) strengthens following solid labor-market data and rising Treasury yields, while mixed developments in the Eurozone limit support for the shared currency.

The British Pound retreats by 0.31% during the North American session as the Greenback rises, underpinned by soaring US Treasury yields as investors price in a spike in inflation from the energy shock. The GBP/USD trades at 1.3392 after reaching a daily high of 1.3437.

The Euro (EUR) weakens against the Canadian Dollar (CAD) on Tuesday as rising Oil prices linked to the US-Iran conflict continue to support the commodity-linked Loonie, even as the latest Canadian inflation data came in softer than expected.

TD Securities’ FX strategists Howard Du and Linda Cheng note that soft April Canada inflation and weak employment data should keep USD/CAD supported near 1.37 in Q2 2026.

NZD/USD trades around 0.5835 on Tuesday at the time of writing, down 0.65% on the day as the New Zealand Dollar (NZD) faces renewed selling pressure against the US Dollar (USD).

Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) keeps a defensive tone as USD/CAD grinds higher despite firm domestic yields and crude. Their fair value estimate has slipped back toward 1.35, highlighting renewed overvaluation in the pair.

Brown Brothers Harriman’s (BBH) Elias Haddad reports USD/JPY has moved above 159.00 on broad US Dollar (USD) strength but is expected to stay below 160.00 given intervention risks.

USD/JPY extends gains on Tuesday, rising for the seventh straight day as broad US Dollar (USD) strength and higher Oil prices linked to the US-Iran war continue to pressure the Japanese Yen (JPY).

USD/CAD moves higher on Tuesday and trades around 1.3760 at the time of writing, up 0.17% on the day, as the Canadian Dollar (CAD) struggles to fully benefit from higher Oil prices.

MUFG's Lee Hardman highlights a sharp GBP rebound, with GBP/USD back above 1.3400 as reports suggest Andy Burnham would keep existing United Kingdom (UK) fiscal rules.

The Australian Dollar (AUD) resumes its downtrend against the US Dollar (USD) on Tuesday, and is trading a few pips above one-month lows in the 0.7100 area at the time of writing.

BNY’s Bob Savage notes the Reserve Bank of Australia (RBA) sees elevated risks that inflation expectations drift higher, potentially requiring a deeper slowdown. Oil-driven price pressures and three rate hikes to 4.35% frame the backdrop for AUD/USD.

Brown Brothers Harriman’s (BBH) Elias Haddad notes GBP/USD has given back part of its gains as weaker United Kingdom (UK) labor market data dampens Bank of England (BoE) tightening prospects.

ING’s Francesco Pesole expects a sharp rise in Canada’s April Consumer Price Index (CPI), but sees limited pressure on the Bank of Canada (BoC) to hike.

USD/CHF trades higher around 0.7870 on Tuesday at the time of writing, gaining 0.35% on the day as the US Dollar (USD) benefits from renewed support linked to expectations of a more hawkish monetary policy stance in the United States (US).

DBS Group Research economist Ma Tieying highlights that expectations for a new Japanese supplementary budget are reviving so‑called Takaichi trades, with higher anticipated bond supply pushing Japanese Government Bond yields up and weighing on the Yen.

Societe Generale strategists note that USD/CAD has bounced after defending its January lows and is now gravitating toward the 200-day moving average, which they see as initial resistance.

The GBP/JPY cross attracts fresh sellers in the vicinity of mid-213.00s on Tuesday and erodes a part of the previous day's strong recovery gains from a one-and-a-half-week low.

Eurozone Trade Balance s.a. dipped from previous €7B to €3.5B in March

Eurozone Trade Balance n.s.a. came in at €7.8B, above expectations (€5.4B) in March

The Euro (EUR) resumes its bearish trend against the US Dollar (USD) on Tuesday, retreating to levels near 1.1630 at the time of writing, from Monday’s highs right above 1.1660.

Deutsche Bank analysts note Japan’s economy grew faster than expected in Q1 2026, supporting the case for further Bank of Japan (BoJ) rate hikes, yet the Japanese Yen (JPY) weakened slightly against the US Dollar (USD).

MUFG’s Lee Hardman notes that AUD/USD has fallen after the Australian Dollar (AUD) underperformed on softer China data and a cautious Reserve Bank of Australia (RBA).

ING’s Francesco Pesole argues that while the European Central Bank (ECB) must stay hawkish to contain long‑end yields, EUR/USD remains vulnerable.

The USD/JPY pair prolongs its uptrend for the seventh consecutive day – also marking the eighth day of a positive move in the previous nine – and advances to a nearly three-week top during the first half of the European session on Tuesday.