The NZD/USD pair is trading near the 0.5930 price region, reversing its intraday gains late in the American session.

The Aussie Dollar surges nearly 1% on speculation that the Reserve Bank of Australia is expected to raise rates at the March meeting. At the time of writing the AUD/USD trades at 0.7131, after refreshing three-year high at 0.7168.

NZD/USD trades around 0.5955 at the time of writing on Tuesday, gaining 0.35% on the day as the US Dollar (USD) softens across the board.

Nomura’s Global Markets Research Team highlights that Swedish inflation has undershot consensus for four months, but renewed energy price pressures from the Iran conflict could offset this.

The Japanese Yen (JPY) trades flat against the US Dollar (USD) on Tuesday, with USD/JPY giving up earlier gains as the Greenback edges lower.

The Pound Sterling post modest gains during the North American session as the Greenback remains weaker even though tensions in the Middle East remains high, despite US President Trump comments that the end of the war is near. The GBP/USD trades at 1.3467 after hitting a daily high of 1.3483.

EUR/USD edges higher on Tuesday, supported by a softer US Dollar (USD), allowing the Euro (EUR) to extend gains for a second straight day. At the time of writing, the pair is trading around 1.1645 following a rebound from a near four-month low of 1.1507 touched on Monday.

Brown Brothers Harriman’s Elias Haddad highlights that the Norwegian Krone is underperforming as lower crude Oil prices weigh, even as Norway’s February inflation remains above Norges Bank projections.

AUD/USD trades around 0.7125 on Tuesday at the time of writing, up 0.70% on the day and extending its gains for a third straight day. The pair is benefiting from a softer US Dollar (USD) and underlying support from expectations surrounding monetary policy in Australia.

Rabobank’s Senior FX Strategist Jane Foley highlights that despite recent Pound resilience, UK risks remain elevated. Foley warns that an energy shock could add around 65 bps to UK CPI by mid-year, limiting BoE easing.

ING’s Chris Turner notes that AUD/USD has been resilient, outperforming other high-beta currencies as equities have avoided a major sell-off and Australia benefits from stronger terms of trade as an energy exporter.

Scotiabank strategists Shaun Osborne and Eric Theoret highlight that the Canadian Dollar is modestly firmer against a softer Dollar, supported by narrower 1-year swap spreads and resilient risk appetite despite lower Oil.

Nomura’s Global Markets Research Team argues that Switzerland’s low energy weight in CPI and hydropower reliance limit the inflation impact of higher Oil and gas prices.

GBP/JPY trades higher on Tuesday as the ongoing US-Iran conflict pressures the Japanese Yen (JPY) amid fears that disruptions in the Strait of Hormuz could threaten energy supplies to Japan, which relies heavily on imported Oil.

Brown Brothers Harriman's (BBH) Elias Haddad reports AUD/USD has broken above 0.7100 with momentum toward 0.7150, as Australian sentiment data leave Reserve Bank of Australia expectations largely unchanged.

Rabobank’s Senior FX Strategist Jane Foley notes that the Pound has outperformed since late February, while the Euro has lagged, with recent EUR/GBP gains largely tied to fading expectations of a March BoE rate cut and positioning effects.

ING’s Chris Turner highlights that UK rate markets have seen one of the largest repricings from the energy shock, reflecting high UK inflation and a relatively hawkish Bank of England.

European Central Bank (ECB) economist Georg Muller said on Tuesday that “we shouldn't rush into any decision.”

ING’s Chris Turner reports that EUR/USD held the 1.1500 level despite pressure, with options markets not positioning for a major downside break. He notes that the energy shock has driven a stronger repricing of Euro and Pound rates than US rates, potentially narrowing EUR:USD swap differentials.

GBP/USD extends its gains for the third successive session, trading around 1.3480 during the early European hours on Tuesday.

Here is what you need to know on Tuesday, March 10:

The AUD/JPY cross trades in positive territory near 111.80 during the early European session on Tuesday. The Australian Dollar (AUD) strengthens against the Japanese Yen (JPY) as China's trade surplus grew more than expected at the beginning of 2026, driven by a significant surge in exports. 

The EUR/USD pair edges lower to around 1.1615 during the early European session on Tuesday. Concerns over oil flow disruptions through the Strait of Hormuz boost the US Dollar (USD) as a safe-haven and create a headwind for the major pair. 

USD/CHF edges higher after two days of losses, trading around 0.7780 during the Asian hours on Tuesday. The pair gains ground as the US Dollar (USD) inches higher after a sharp intraday drop in the previous session.

The USD/CAD pair struggles to build on the overnight bounce from the 1.3525 area, or a nearly one-month low, and oscillates in a narrow band during the Asian session on Tuesday. Spot prices currently trade below the 1.3600 mark, nearly unchanged for the day, amid mixed fundamental cues.

The EUR/JPY cross loses traction to around 183.20 during the early European session on Tuesday. The Japanese Yen (JPY) strengthens against the Euro (EUR) as escalating conflict in the Middle East boosts safe-haven demand. 

USD/INR rebounds after registering little losses in the previous session. However, the pair reached an all-time high of 92.81 on Monday as the Indian Rupee (INR) faces intense selling pressure amid increased risk aversion and higher oil prices.

The GBP/USD pair struggles to capitalize on the previous day's move higher and edges lower during the Asian session on Tuesday. Spot prices, however, manage to hold above the 1.3400 mark as investors await further developments surrounding the US-Israel-Iran war before placing fresh directional bets.

The NZD/USD pair attracts some sellers during the Asian session on Tuesday and erodes a part of the previous day's goodish recovery gains from levels just below mid-0.5800s.

USD/CAD edges higher after two days of losses, trading around 1.3600 during the Asian hours on Tuesday.