The Japanese Yen (JPY) trades higher against the US Dollar (USD) on Thursday. In the European trade, the USD/JPY pair is down 0.3% to near 157.90.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann highlight that EUR/USD rallied to 1.1272 before closing at 1.1227 as the US Dollar (USD) weakened on lower US yields.

USD/CHF extends its losses for the second consecutive day, trading around 0.8140 during Asian hours on Thursday.

The British Pound (GBP) is down 0.16% to near 212.93 against the Japanese Yen (JPY) during the European trading session on Thursday. The cross is under pressure as the British currency trades with caution ahead of the Bank of England’s (BoE) monetary policy announcement at 12:00 GMT.

The GBP/USD pair trades in positive territory near 1.3490 during the early European trading hours on Thursday. The US Dollar (USD) softens against the British Pound (GBP) after the Democrats take control of the US Congress in midterm elections.

The AUD/USD pair attracts some buyers for the second straight day on Thursday as a Democratic sweep in US midterm elections and sliding US bond yields drag the US Dollar (USD) to a fresh low since late September.

The EUR/JPY cross trades in negative territory around 177.90 during the early European session on Thursday. The Japanese Yen (JPY) strengthens against the Euro (EUR) after minutes of the Bank of Japan's (BoJ) September meeting reinforced expectations for further interest ‌rate hikes.

The EUR/USD pair gains positive traction for the second straight day on Thursday, trading around the 1.1265 region during the Asian session, close to a near one-week high touched the previous day.

Silver price (XAG/USD) gains ground for the second successive day, trading around $53.10 per troy ounce during the Asian hours on Thursday.

NZD/USD appreciates for the second consecutive day, trading around 0.5650 during Asian hours on Thursday.

The GBP/USD pair gains ground to near 1.3485 during the Asian trading hours on Thursday. The US Dollar (USD) edges lower against the British Pound (GBP) following an overwhelming victory by Democrats in the US midterm elections.

The USD/JPY pair struggles to capitalize on the previous day's goodish rebound from the 157.40 area, or the weekly low, attracting some sellers for the second straight day on Thursday.

USD/CAD loses ground for the second successive day, trading around 1.3950 during Asian hours on Thursday.

The EUR/USD pair gathers strength to near 1.1245 during the early Asian trading hours on Thursday. The US Dollar (USD) weakens against the Euro (EUR) as the Democrats take control of the US Congress in midterm elections. Germany’s Factory Orders data for September is due later on Thursday.

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Thursday at 6.7156 compared to the previous day's fix of 6.7180 and 6.6783 Reuters estimate.

The Democratic blue sweep in the US midterm elections weighed on the US Dollar and boosted the Australian Dollar, which has bounced from a 12-day low of 0.6954 and reclaimed 0.7000, gaining over 0.59% at the time of writing.

The Mexican Peso rallies against the US Dollar following the Democratic blue sweep in the US midterm elections, with Democrats set to control the US Senate and the House of Representatives starting in January 2027.

Scotiabank’s FX strategists note the Pound rising about 0.4% intraday against the US Dollar, with UK PMI revisions having little impact. Market focus shifts to the Bank of England decision, where a 25bp hike is largely priced and further tightening expected.

The USD/CHF extended its losses during the North American session, hitting a two-month low of 0.8127 earlier in the day as traders dumped the US Dollar in favor of other haven assets like the Swiss Franc or the Japanese Yen. Consequently, the pair edges down 0.45% and trades at 0.8172.

EUR/USD trades on the front foot on Wednesday, supported by broad US Dollar (USD) weakness following the US midterm election results. However, the pair eases from an intraday high of 1.1273 as resilient US economic data helps the Greenback regain some ground.

Scotiabank analysts say the Euro (EUR) is firmer near 1.1240, slightly off intraday highs around 1.1265, with gains broadly tracking the softer US Dollar (USD) after the US midterms.

NZD/USD rebounds on Wednesday, trading around 0.5620, up 0.19% on the day at the time of writing.

AUD/USD edges higher on Wednesday as the US midterm election outcome weighs on the US Dollar (USD), helping the Australian Dollar (AUD) recover from the two-week lows reached following the Reserve Bank of Australia’s (RBA) dovish interest rate hike on Tuesday.

The Pound Sterling rallies to a seven-week high against the Greenback on Wednesday, in the aftermath of the US midterm elections, in which the Democrats are poised to win the US House of Representatives and the US Senate.  This is a hard blow for US President Trump, who congratulated the Democrats a

Rabobank’s RaboResearch team, including Molly Schwartz and Christian Lawrence, expects Banxico to keep its overnight rate at 6.50% on November 5 and through 2027, even as the Federal Reserve is seen hiking.

EUR/USD attracts fresh buyers on Wednesday as the US midterm election results rattle the US Dollar (USD), helping the Euro (EUR) reclaim 1.1200. The technical picture also improves, suggesting bulls are regaining a foothold after the pair touched 1.1104 last week, its lowest level since May 2025.

Standard Chartered’s Christopher Graham notes Euro area GDP growth excluding Ireland has slowed steadily since Q4-2025 while inflation continues to rise, increasing stagflation risks though not yet meeting that definition.

Commerzbank’s Norman Liebke expects the Central Bank of Brazil to pause its rate-cutting cycle at 13.75% amid fiscal and inflation concerns after Lula’s re-election. He notes unanchored inflation expectations but argues this is only a pause, with further cuts likely next year. Liebke sees scope for lower rates and anticipates the Brazilian Real will appreciate over the medium term.

The Canadian Dollar (CAD) gains around 0.50% against the US Dollar (USD) on Wednesday, pushing USD/CAD to seven-week lows as the Greenback faces fresh selling pressure following the US midterm election results. At the time of writing, the pair trades around 1.3933.

USD/JPY trades with a negative bias on Wednesday as the US Dollar (USD) slides to five-week lows following the US midterm election results.