The Japanese Yen (JPY) is down against its major currency peers, except antipodeans, at the start of the week. In the early European trade, the US Dollar (USD) is up 0.17% at around 157.77 against the Japanese currency.

The Indian Rupee (INR) extends previous trading day’s gains against the US Dollar (USD) on Monday on the back of a sharp correction in oil prices. In the opening trade, the USD/INR pair is down 0.23% to near 94.72.

The GBP/USD pair attracts some dip-buyers at the start of a new week and climbs back to the 1.3400 mark during the Asian session, stalling its modest pullback from the highest level since September 16 set on Friday.

The EUR/USD pair gathers strength to near 1.1175 during the early European trading hours on Monday. The Euro (EUR) edges higher against the US Dollar (USD) as the Eurozone and German Gross Domestic Product (GDP) data beat forecasts in the third quarter (Q3).

EUR/JPY gains ground after recovering recent losses from the previous trading day, hovering around 176.40 during Asian hours on Monday. Based on the technical analysis of the daily chart's descending channel pattern, the currency cross maintains a clear bearish bias.

The AUD/JPY cross trades in positive territory around 110.90 during the early European trading hours on Monday. Growing expectations for an imminent interest rate hike from the RBA provide some support to the Australian Dollar (AUD) against the Japanese Yen (JPY).

The AUD/USD pair shows minor downward movement at the start of a new week, trading near the 0.7020 region, down around 0.15% for the day during the Asian session. Traders, however, might refrain from placing fresh directional bets ahead of the Reserve Bank of Australia (RBA) decision on Tuesday.

The GBP/USD pair holds steady near 1.3390 during the Asian trading hours on Monday. Traders prefer to wait on the sidelines ahead of the key events later this week. The Bank of England (BoE) interest rate decision will be in the spotlight on Thursday.

The USD/JPY pair gains some positive traction at the start of a new week, recovering further from Friday's post-Bank of Japan (BoJ) swing low to sub-157.00 levels.

USD/CAD gains ground after opening at a bearish gap, remaining in negative territory and trading around 1.3970 during Asian hours on Monday.

The EUR/USD pair edges higher during the Asian session on Monday, though it lacks bullish conviction and currently trades just above 1.1150 amid a combination of diverging forces.

On Monday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7146 compared to Friday's fix of 6.7138 and 6.6625 Reuters estimate.

The AUD/USD pair declines to around 0.7025 during the early Asian session on Monday. The US Dollar (USD) strengthens against the Australian Dollar (AUD) amid elevated geopolitical tensions in the Middle East.

USD/JPY holds trades on the back foot heading into the weekend as the Japanese Yen (JPY) outperforms most major currencies following the Bank of Japan’s (BoJ) hawkish hold. However, the pair has recouped some of its earlier losses as the US Dollar (USD) recovers.

AUD/USD edges slightly higher on Friday, gaining 0.08% on the day to trade around 0.7035 at the time of writing.

The Pound Sterling drifts higher against the US Dollar by 0.04% as traders seem confident that the Bank of England (BoE) will raise rates next week, while traders trim hawkish bets on the Fed despite solid US data released on Thursday. The GBP/USD trades near 1.3400.

USD/CAD trades on the back foot on Friday, even as the US Dollar (USD) recovers from earlier weakness. Rising Oil prices support the commodity-linked Canadian Dollar (CAD), outweighing softer-than-expected domestic growth data.

EUR/USD turns lower on Friday, giving up earlier gains as the US Dollar (USD) rebounds amid heightened volatility across financial markets. At the time of writing, the pair trades around 1.1140 after reaching an intraday high of 1.1214.

The Swiss Franc (CHF) is giving away gains against the US Dollar (USD) on Friday, weighed by concerns about the Swiss economy's exposure to the higher Oil prices.

ING’s Chris Turner reports that the Bank of Japan (BoJ) left rates at 1.25% while acknowledging its 2% inflation target has been met and highlighting upside price risks from energy, AI demand and a weak Japanese Yen (JPY).

Brown Brothers Harriman’s Elias Haddad reports EUR/USD has rebounded above 1.1200 after the ECB paused while pushing back against aggressive market tightening expectations.

TD Securities FX strategist Howard Du notes that markets already price an 80% chance of a November RBA rate hike, limiting further support for the Australian Dollar.

The Euro (EUR) extends losses on Friday as Eurozone macroeconomic data has failed to convince investors, while the British Pound (GBP) rallies across the board with markets pricing in a Bank of England (BoE) rate hike next week.

Brown Brothers Harriman’s Elias Haddad highlights USD/JPY trading heavy near 157.30 after a hawkish hold from the Bank of Japan (BoJ). The BoJ kept rates unchanged but signaled ongoing tightening, upgraded its inflation outlook and sees upside inflation risks.

According to Eurostat, Eurozone preliminary Gross Domestic Product (GDP) growth remains stronger at 0.4% in the third quarter this year, compared to estimates of 0.2%.

Eurozone Unemployment Rate above forecasts (6.4%) in September: Actual (6.5%)

The US Dollar (USD) heads lower for the third consecutive day against the Canadian Dollar (CAD) on Friday, as risk aversion pushes US Treasury yields lower, while high Oil prices boost the commodity-sensitive Canadian Dollar.

The New Zealand Dollar (NZD) extends its Thursday’s recovery move to near 0.5650 against the US Dollar (USD) in the European trade on Friday.

ING’s Francesco Pesole notes that the European Central Bank (ECB) held rates steady but delivered hawkish signals, with President Christine Lagarde hinting at further tightening and officials reportedly ready to raise rates in December.

The British Pound (GBP) rallies for the third consecutive day against the US Dollar (USD) on Friday, following a soothing UK budget earlier this week, with the focus on a widely expected interet rate hike by the Bank of England next week.