The British Pound (GBP) faces mild selling pressure against the Japanese Yen (JPY) during the European trading session on Friday.

Here is what you need to know on Friday, August 14:

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann highlight that EUR/USD is consolidating after a brief spike, with the pair expected to trade intraday in a slightly higher 1.1515–1.1550 range as the underlying tone firms.

Silver price (XAG/USD) extends its losses for the second consecutive day, trading around $63.50 per troy ounce during the Asian hours on Friday.

The AUD/JPY cross trades in negative territory around 112.55 during the early European trading hours on Friday. The Japanese Yen (JPY) strengthens against the Australian Dollar (AUD) as traders remain on high alert for further currency intervention from Japanese authorities. 

The Indian Rupee (INR) opens on a flat note at around 95.40 against the US Dollar (USD) on Friday.

The USD/JPY pair trades with a mild negative bias below mid-159.00s during the Asian session on Friday, though it remains close to a nearly two-week high touched the previous day.

EUR/JPY remains flat after registering minor gains in the previous day, trading around 183.90 during the Asian hours on Friday. The currency cross is holding above the short-term nine-period Exponential Moving Average (EMA) but remaining capped by the medium-term 50-period EMA.

The EUR/USD pair attracts some follow-through buyers during the Asian session on Friday and looks to build on the previous day's modest bounce from the vicinity of the 1.1500 psychological mark, or an over one-week low.

USD/CHF halts its four-day winning streak, trading around 0.8140 during the Asian hours on Friday. The currency pair edges lower as the US Dollar (USD) faces downward pressure following a softer-than-expected US inflation report.

USD/CAD loses ground for the second successive day, trading around 1.3920 during the Asian hours on Friday. The pair depreciates as the US Dollar (USD) declines following a softer-than-expected US inflation report.

The GBP/USD pair attracts some dip-buyers during the Asian session on Friday and, for now, seems to have snapped a two-day losing streak to the weekly low, which it touched the previous day.

AUD/USD edges lower for the third successive day, trading around 0.7060 during the Asian hours on Friday. Reserve Bank of Australia (RBA) Assistant Governor Chris Kent stated on Thursday that recent interest rate hikes are producing their intended effect.

The NZD/USD pair is seen building on the previous day's bounce from the 0.5820 region, or a two-week low, and gaining some positive traction during the Asian session on Friday. Spot prices climbed back above 0.5850 in the last hour and, for now, seem to have snapped a four-day losing streak.

On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7878 compared to the previous day's fix of 6.7888.

The EUR/USD pair gains ground to near 1.1535 during the early Asian session on Friday. The US Dollar (USD) softens against the Euro (EUR) following a softer-than-expected US inflation report. The US July Retail Sales data will take center stage later on Friday. 

The GBP/JPY remains directionless on Thursday as traders turn cautious about opening fresh directional bets amid intervention fears in the FX markets, which could strengthen the Yen, and after solid UK data. The cross-pair sits at around 215.00, down 0.02%.

The Aussie Dollar holds steady at around 0.7061 after US inflation data weighed on the Greenback, which recovered some ground to finish Thursday’s session almost flat. The AUD/USD registers modest losses of 0.01%

The Dollar changes hands at 159.50 against the Yen on Thursday, a fraction higher on the session inside a range of barely 55 pips.

The Pound holds just under 1.3500 on Thursday inside a session range barely 40 pips wide, which is a thin response to a morning that handed Britain a growth beat and an afternoon that handed the Dollar a soft inflation print.

The Euro holds firm above 1.1500 as inflation data in the US curbed Fed rate hike bets, as traders shifted from expecting a rate hike to a hold in the September 16 meeting, while investors await the release of economic growth figures in the European Union (EU).

NZD/USD is recovering on Thursday in the American session, regaining the mid-0.5800s after rising off two-week lows reached during the Asian session. The New Zealand Dollar (NZD) has clawed back some ground as the US Dollar (USD) lost momentum.

The USD/MXN extends its downtrend for the 14th straight day, down a minimal 0.08% as the Mexican Peso hovers near a 24-month low of 17.01 on Thursday.

The USD/CHF trades near the top trendline of a ‘bearish-flag,’ holds steady at around 0.8034, following the release of good inflation data on the producer side.

USD/JPY is trading sideways on Thursday, hovering in the mid-159.00s and holding within its recent range. It is more of the same for the pair, which continues to move in consolidation as opposing forces cancel each other out.

Silver trades modestly lower on Thursday, holding within Monday’s trading range as buyers take a breather following the strong rally seen at the start of the month.

AUD/USD is trading little changed on Thursday, shrinking near the 0.7050s below the multi-week high reached on Wednesday near 0.7091. The pair holds its ground after US data pointed to cooling price pressure, keeping the US Dollar (USD) stagnant.

NZD/USD trades around 0.5850 on Thursday at the time of writing, down 0.15% on the day.

The Japanese Yen (JPY) struggles to gain traction against the US Dollar (USD) on Thursday, even as the Greenback weakens modestly following softer-than-expected US Producer Price Index (PPI) data. The Yen strengthened immediately after the release, briefly pushing USD/JPY toward 159.

The Pound Sterling registers modest gains versus the Greenback as US inflation data in the producer side came below or aligned with estimates, revealing that the disinflation process continued. The GBP/USD trades at 1.3503, up 0.06%.