USD/CAD halts its winning streak that began on June 10, trading around 1.4230 during the Asian hours on Thursday. The currency pair depreciate as the US Dollar (USD) declines despite rising market expectations of Federal Reserve (Fed) interest rate hikes later this year.

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Thursday at 6.8209 compared to the previous day's fix of 6.8195 and 6.8048 Reuters estimate.

The NZD/USD pair attracts sellers for the seventh straight day and drifts back closer to its lowest level since November 25, set the previous day. Spot prices currently trade around the 0.5640-0.5635 region and seem vulnerable amid a bullish US Dollar (USD).

The USD/JPY pair trades on a flat note near a multi-decade highof around 161.75 during the early Asian trading hours on Thursday. The potential upside for the pair might be limited amid heavy speculation of imminent currency intervention from Japanese authorities. 

The EUR/USD pair declines to around 1.1355 during the early Asian trading hours on Thursday. The Euro (EUR) weakens to its lowest level since June 2025 against the US Dollar (USD) as traders increase their bets on US interest rate hikes later this year.

The Euro retreated on Wednesday against the Japanese Yen, down 0.08% amid growing speculation that Japanese authorities may intervene in the foreign exchange markets and also inflation in the producer side in Japan, exceeded estimates above the 3% threshold.

GBP/USD spent Wednesday confirming what the daily chart has signalled for a week, that the Pound's attempted recovery has run out of road. Cable drifted lower through the session to a low just under 1.3150 before clawing back a little into the close, settling just above fresh lows for the move.

USD/JPY spent Wednesday grinding higher again, which by rights should not be happening. The Bank of Japan (BoJ) raised its policy rate only last week, and a hike is meant to put a floor under a currency, not watch it slide toward generational lows.

Societe Generale’s Emerging Markets (EM) strategists say the Brazilian central bank, Banco Central do Brasil (BCB) minutes support an easing cycle with pauses to guide inflation back to 3% by 1Q28, leaving USD/BRL approaching its 200‑day moving average at 5.25.

Scotiabank strategists Shaun Osborne and Eric Theoret note the Japanese Yen (JPY) is only fractionally weaker versus the Dollar (USD) but is outperforming across G10 crosses, reflecting market caution over potential official intervention.

The GBP/JPY cross came under pressure near the 213.00 level on Wednesday as the British Pound weakened after United Kingdom (UK) Prime Minister Keir Starmer announced he would stand down as Labour Party leader and Prime Minister.

USD/CAD climbs to fresh highs since April 2025 on Wednesday as the Canadian Dollar (CAD) faces a double blow from a stronger US Dollar (USD) and weaker Oil prices.

The Swiss Franc (CHF) slides to its weakest level in more than ten months on Wednesday as hawkish Federal Reserve (Fed) outlook boosts the US Dollar (USD). At the time of writing, USD/CHF trades around 0.8126, extending its gains for a sixth consecutive day.

The Japanese Yen registers minimal losses against the US Dollar amid mixed risk appetite, with global equities fluctuating between gainers and losers, while investors continue to monitor developments in the Middle East.

Scotiabank strategists Shaun Osborne and Eric Theoret report the British Pound (GBP) is softer against the US Dollar (USD) but relatively resilient versus G10 peers, with declines tied to shifting Fed expectations and softening United Kingdom (UK) yields after moderating inflation and a weak service

EUR/USD extends its decline on Wednesday and trades around 1.1340 at the time of writing, down 0.39% on the day, as the US Dollar (USD) benefits from renewed support driven by expectations of additional monetary tightening in the United States (US).

The AUD/USD pair remained under pressure, trading at 0.6890 near a three-month low on Wednesday as investors assessed Australia’s latest inflation figures and now focus on the upcoming United States (US) Personal Consumption Expenditures Price Index (PCE), the Federal Reserve’s preferred inflation g

Scotiabank strategists Shaun Osborne and Eric Theoret highlight renewed Euro (EUR) weakness versus the Dollar (USD), driven by widening negative Eurozone–US yield spreads and a hawkish repricing of Fed expectations while European Central Bank (ECB) views stay steady.

ING’s Francesco Pesole says AUD/USD remains under pressure from the tech-led equity sell-off, given the Australian Dollar’s high correlation with semiconductor stocks. Domestically, hotter core inflation should keep Reserve Bank of Australia communication hawkish, even without further hikes.

GBP/JPY trades on the back foot on Wednesday as the Japanese Yen (JPY) outperforms its major peers following hawkish signals from the Bank of Japan (BoJ). At the time of writing, the cross is trading around 212.90, down 0.20%.

Scotiabank strategists Shaun Osborne and Eric Theoret note USD/CAD continues its grind higher, with the Canadian Dollar (CAD) in a near straight-line decline since early May as wider US–Canada yield spreads drive weakness.

Societe Generale analysts note that EUR/USD has traded mostly between 1.14 and 1.20 over the past year, with low volatility magnifying even small breakouts.

Silver (XAG/USD) drops to fresh year-to-date lows on Wednesday as hawkish Federal Reserve (Fed) expectations and a stronger US Dollar (USD) keep sellers firmly in control. At the time of writing, XAG/USD trades around $59.39, its lowest level since December 2025.

TD Securities strategists note that Australia’s May headline CPI slowed to 4.0% year-on-year, below consensus and their own forecast, largely on softer transport and fuel costs.

The Japanese Yen (JPY) remains on its back foot against a stronger US Dollar (USD) on Wednesday, with the USD/JPY pair approaching 40-year highs at 161.95 again.  The wide differential between the Bank of Japan's (BoJ) interest rates and those of the world's major central banks is keeping the Japane

Standard Chartered’s Dan Pan expects Brazil’s central bank, Banco Central do Brasil (BCB) to deliver a more gradual easing cycle as inflation dynamics remain challenging.

USD/CAD trades higher around 1.4230 on Wednesday after earlier reaching a more-than-one-year high at 1.4239.

The British Pound (GBP) trades 0.38% lower at around 1.3150 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair faces intense selling pressure as the US Dollar outperforms due to hawkish Federal Reserve (Fed) bets.

ING’s Francesco Pesole highlights that EUR/USD has been pressured by an equity sell-off and weak German PMIs, reinforcing a US-EU growth divergence narrative. He notes a wider EUR:USD two-year swap differential and a renewed Dollar risk premium.

The New Zealand Dollar (NZD) is failing to find a bottom as rising hopes of monetary tightening by the US Federal Reserve (Fed) and dismal market mood are boosting the safe-haven US Dollar (USD) on Wednesday.