GBP/USD opened the new week on the soft side, dipping to a session low near 1.3380, but staged a strong recovery through Monday's session to close around 1.3510, up 0.35% on the day.

Silver (XAG/USD) recovers some ground on Monday yet is poised to finish the day with losses of 0.33% after gapping down over the weekend due to news painting a gloomy outlook for the US-Iran conflict. At the time of writing, XAG/USD trades at $75.58 after bouncing off daily lows of $72.61.

USD/JPY traded in a wide intraday range on Monday, briefly spiking to a session high near 159.86 before pulling back steadily to settle around 159.35, roughly flat on the day.

The NZD/USD pair is pushing higher on Monday, April 13, climbing back toward the 0.5880 region as broad US Dollar (USD) weakness becomes the dominant market driver.

EUR/USD extended its gains on Monday as market mood improved, weighing on the US Dollar, which fell to six-week lows near 98.36 according to the US Dollar Index (DXY). At the time of writing, the pair trades at 1.1757, up 0.32%.

USD/CAD slipped around 0.4% on Monday, falling to session lows near 1.3790 as the Canadian Dollar gained ground on surging Crude Oil prices and broad US Dollar softness.

AUD/USD stages a sharp reversal on Monday after opening the week with a gap lower, as investors reassess evolving geopolitical developments in the Middle East and the prospects for a US-Iran deal.

USD/CHF edges lower on Monday but lacks follow-through selling as escalating US-Iran tensions and growing expectations that the Federal Reserve (Fed) will keep interest rates higher for longer, driven by rising Oil prices, help limit downside in the US Dollar (USD).

The Pound Sterling remains firm on Monday as talks between Iran and the US disappointed investors, triggering a reaction from the White House, while recent news suggested that Tehran could be considering abandoning uranium enrichment, a key condition set by the US to end the war.

The USD/JPY pair is trading with a neutral tone near 159.70 on Tuesday, up 0.27%, as markets react to a dramatic escalation in geopolitical tensions following headlines that the United States (US) has moved to effectively shut down traffic through the Strait of Hormuz.

The British Pound (GBP) strengthens against the Japanese Yen (JPY) on Monday, with GBP/JPY extending its rally for a sixth consecutive day as rising Oil prices continue to weigh on the Yen. At the time of writing, the cross is trading around 214.87, its highest level since February 4.

OCBC strategists Sim Moh Siong and Christopher Wong highlight that recent New Zealand Dollar (NZD) gains on hawkish Reserve Bank of New Zealand (RBNZ) rhetoric look vulnerable. Markets now price nearly three hikes by year-end despite New Zealand’s negative output gap and below-trend growth.

NZD/USD moves lower at the start of the week and trades around 0.5830 on Monday at the time of writing, down 0.15% on the day after the failure of negotiations between the United States (US) and Iran over the weekend.

BNY's Head of Markets Macro Strategy Bob Savage highlights comments from Bank of Japan (BoJ) Governor Kazuo Ueda stressing vigilance over higher Oil prices and global financial instability.

Brown Brothers Harriman’s (BBH) Elias Haddad highlights that the Reserve Bank of Australia’s (RBA) narrow 5–4 decision to hike in March leaves upcoming labor data crucial for timing the next move.

The EUR/USD pair recovers a majority of its opening losses, but is still 0.2% down to near 1.1700 during the late European trading session on Monday. The major currency pair is still under pressure as renewed geopolitical tensions have prompted a risk-off mood.

USD/CAD trades around 1.3840 at the time of writing, virtually unchanged on Monday after briefly advancing earlier in the day.

Silver (XAG/USD) is trading practically flat, right above the $74.00 level at the time of writing, after having hit session lows at $72.61.

The US Dollar (USD) is giving away previous gains against the Swiss Franc (CHF), as the pair remains trapped within a roughly 70-pip range around 0.7900 on Monday, with upside attempts capped below the 0.7925-0.7930 area.

The Australian Dollar (AUD) bounced at session lows to 0.6990 against the safe-haven US Dollar (USD) on Monday to close a previous trading gap in the area of 0.7055.

The Pound Sterling (GBP) trades lower against its major currency peers, trading 0.25% lower to near 1.3425 against the US Dollar (USD) during the European trading session on Monday.

EUR/HUF falls sharply on Monday, with the Euro (EUR) weakening against the Hungarian Forint (HUF) as the cross slides to its lowest level since February 2024. The Forint strengthens across the board after a landslide election victory by opposition leader Péter Magyar boosts investor confidence.

EUR/JPY trades around 186.65 on Monday, down 0.08% at the time of writing, as risk aversion increases following the failure of talks between the United States (US) and Iran.

United Overseas Bank (UOB) economists Quek Ser Leang and Lee Sue Ann notes that USD/JPY has surged on the open after a quiet Friday, with short-term momentum now strong enough to challenge the 160.00 handle, though 160.50 is seen as tough resistance.

EUR/USD remains trapped within a tight range between 0.8695 and 0.8725.

The Australian Dollar (AUD) demonstrates a mixed performance against its major currency peers, still trading 0.2% lower to near 0.7050 against the US Dollar (USD) during the European trading session on Monday, even after recovering a major chunk of its opening losses.

The USD/JPY pair opens with a bullish gap at the start of a new week, though it lacks follow-through buying and remains below the 160.00 psychological mark heading into the European session.

The (EUR) retreated from last week’s highs near 1.1740 against the US Dollar (USD) on Monday, but so far is holding well in the upper 1.1600s. The pair is trading at 1.1685 at the time of writing, having been supported at 1.1670 earlier in the day.

NZD/USD rises after opening at a gap down, trading around 0.5830 during the Asian hours on Monday. The technical analysis of the daily chart signals a potential for a bullish bias as the pair remains within the emerging ascending channel pattern.

Commerzbank’s Thu Lan Nguyen notes that negotiations between the United States and Iran have failed while Washington threatens a blockade of the Strait of Hormuz, risking a sharper global shortage of Oil and gas.