The Euro (EUR) extends its Tuesday’s strong recovery move to near 1.1210 against the US Dollar (USD) during the Asian trade on Wednesday.

The Canadian Dollar (CAD) trades slightly higher against the US Dollar (USD) on Wednesday ahead of the United States (US) Consumer Price Index (CPI) data at 12:30 GMT. In the Asian trade, the USD/CAD pair is marginally down to near 1.4200, as the US Dollar extends its decline.

The NZD/USD pair gains some positive traction for the second day on Wednesday, building on the overnight bounce from the 0.5580 support zone, or the lowest level since April 2025.

AUD/USD gains ground for the second successive day, trading around 0.6990 during Asian hours on Wednesday. The pair remains stronger as the Australian Dollar (AUD) holds its gains following the release of Consumer Price Index (CPI) inflation data from China, Australia’s major trading partner.

The GBP/USD pair gathers strength to around 1.3260 during the early Asian trading hours on Wednesday. Dovish signals from New York Federal Reserve (Fed) President John Williams weigh on the US Dollar (USD) against the British Pound (GBP).

The USD/JPY pair edges higher on Wednesday, trading near mid-158.00s during the Asian session and within striking distance of the monthly high, touched last week. Spot prices, however, remain confined in a familiar range as traders now look forward to the US inflation figures for a fresh impetus.

On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7249 compared to the previous day's fix of 6.7298 and 6.6922 Reuters estimate.

The EUR/USD pair 1.1205 holds positive ground near 1.1205 during the early Asian trading hours on Wednesday. The US Dollar (USD) softens against the Euro (EUR) following remarks from New York Federal Reserve (Fed) President John Williams.

The Aussie Dollar registers a gain of over 0.34% against the US Dollar on Tuesday as news flows remain quiet, with US data coming mixed, while hostilities in the Middle East continue. The AUD/USD trades at 0.6983.

The Dollar fell against every major currency on Tuesday and fell least against the Yen, on the day the Bank of Japan (BoJ) was reported to be leaning against an October rate hike.

The Mexican Peso depreciates against the US Dollar as traders await the release of the US Consumer Price Index (CPI) report, which could set the pace for interest rates towards the end of the year. The USD/MXN trades at 18.36, up 0.57%.

Bank of England (BoE) external member Greene said that the UK's Bank Rate of 3.75% isn't holding the economy back much, and that waiting for inflation to spread into wages and prices would mean acting too late.

The GBP/JPY extends its modest gains for two straight days, up 0.16% as the cross-pair continues to consolidate near the 210.00 figure with no clear bias, while the Relative Strength Index (RSI) drifts higher towards its 50-neutral level, an indication that buyers are stepping in.

Scotiabank strategists Shaun Osborne and Eric Theoret highlight the Japanese Yen (JPY) as somewhat firmer, with USD/JPY pulling back from the upper 158s on comments from BoJ Governor Ueda and PM Takaichi about close US-Japan FX contact.

The Swiss Franc registers gains versus the US Dollar on Tuesday as risk appetite improves and energy prices retreat, weighing on the Greenback, which failed to advance even though US Treasury yields soared ahead of the US CPI release. The USD/CHF trades at 0.8331, down 0.18%.

Scotiabank strategists Shaun Osborne and Eric Theoret say the Euro (EUR) is marginally firmer versus the US Dollar (USD) on the softer USD tone, with ECB Governor Stournaras signalling continued gradual tightening.

EUR/USD trades on the front foot on Tuesday as a pullback in the US Dollar (USD) lifts the Euro (EUR).

Silver (XAG/USD) trades on the back foot on Tuesday, losing more than 1.5% as hawkish Federal Reserve (Fed) expectations and elevated US Treasury yields weigh on the non-yielding metal.

NZD/USD rebounds on Tuesday, trading around 0.5610 at the time of writing, up 0.42% on the day. The pair recovered some of its recent losses after hitting its lowest level since April 2025 near 0.5580.

USD/CAD falls around 0.45% on Tuesday as US Dollar (USD) bulls take a breather ahead of Wednesday’s US inflation report.

The Pound Sterling registers gains against the US Dollar on Tuesday, up 0.28% as investors seem confident that the Bank of England (BoE) will raise rates at its November meeting, while they brace for the release of US inflation figures. The GBP/USD trades at 1.3244.

EUR/USD gains ground on Tuesday as the US Dollar (USD) retreats from recent highs, giving the Euro (EUR) some breathing room despite persistent concerns over France’s fiscal and political outlook. At the time of writing, the pair trades around 1.1192, up 0.33% on the day.

Scotiabank strategists Shaun Osborne and Eric Theoret reports the Canadian Dollar (CAD) up 0.2% versus the US Dollar (USD) but underperforming other G10 currencies, with markets still pricing Bank of Canada (BoC) tightening into year-end despite weak labour data.

AUD/USD edges higher on Tuesday as a pullback in US Treasury yields weighs on the US Dollar (USD), pulling it away from recent highs. Meanwhile, hawkish signals from the Reserve Bank of Australia (RBA) provide underlying support to the Australian Dollar (AUD).

Societe Generale's strategists note that the INR has rallied further, with USD/INR looking to break below the 95 handle as the RBI intensifies its FX defense. The central bank extended FX curbs to GIFT City and broadened use of risk reserves.

ING’s Francesco Pesole writes that EUR/USD is moderately undervalued versus short-term fundamentals, reflecting a persistent France-related risk premium that could widen if French bonds sell off further. He sees a challenging backdrop for Euro bulls, expects a possible test of 1.110, and notes that ING has revised its EUR/USD forecast down to 1.13 for the fourth quarter of 2026 and first quarter of 2027.

Commerzbank’s Volkmar Baur explains that the Reserve Bank of Australia is increasingly focused on high inflation, with trimmed-mean inflation above its 2–3% target band for over a year.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note USD/JPY continues to grind higher as wide US‑Japan yield differentials weigh on the Japanese Yen (JPY). Intraday, the pair is expected to hold within 158.20–158.80.

EUR/GBP reverses earlier gains on Tuesday as fiscal and political concerns in France limit the Euro’s (EUR) upside, while the technical picture also suggests sellers remain dominant.

MUFG’s Michael Wan analyses recent Reserve Bank of India actions and their impact on the Indian Rupee. He notes that RBI’s new FX and liquidity measures have sharply strengthened spot USD/INR, but also pushed stress into forwards, offshore NDFs and bonds.