The AUD/JPY rallies over 1.20% on Wednesday, after an inflation report in Australia prompted investors to price additional rate hikes by the Reserve Bank of Australia (RBA). At the time of writing, the cross trades at 111.38.

BNY’s Geoff Yu highlights that Brazilian assets, including the BRL and IBOVESPA, have attracted strong inflows in February 2026, leaving total exposure stretched.

The GBP/JPY rallies for the second straight day, up by over 0.80% as Yen weakness extends, as the Japanese Prime Minister Takaichi nominates two slightly “dovish” academics to the Bank of Japan’s board. The cross trades at 211.94, slightly below the day’s high of 212.12.

The Australian Dollar (AUD) skyrocketed to near a two-week high after a hotter-than-expected January inflation report, fueling speculation of additional rate hikes by the Reserve Bank of Australia (RBA).

Societe Generale analysts flag that USD/ZAR remains in a sideways consolidation but warn that failure to clear the 50‑day moving average could extend the decline toward lower projections.

USD/CHF extends its losses for the second consecutive trading day, down 0.14%, yet it remains trading confined to the 0.7718-0.7757 range for the last three days. At the time of writing, exchanges hands at 0.7729 above the 20-day Simple Moving Average (SMA) at 0.7726.

XAG/USD surged about 4% on Tuesday, rallying sharply to close near $91 in a session driven by renewed safe-haven demand. The pair has been recovering from its late-January crash, when price collapsed from all-time highs above $121 to a low around $64 in early February, a drop of roughly 47%.

The Australian Dollar rallies over 0.80% against the US Dollar on Wednesday, courtesy of a red-hot inflation report, which increased speculation of further tightening by the Reserve Bank of Australia (RBA). At the time of writing, the AUD/USD trades at 0.7118 after bouncing off daily lows of 0.7057.

USD/JPY trades around 156.30 on Wednesday at the time of writing, up 0.26% on the day, as the Japanese Yen (JPY) remains under pressure against the US Dollar (USD). The pair extends its recent upward move amid growing uncertainty over the interest rate path of the Bank of Japan (BoJ).

EUR/USD regains traction on Wednesday as the US Dollar’s (USD) upside momentum fades, allowing the Euro (EUR) to trim its earlier intraday losses. At the time of writing, EUR/USD is trading around 1.1805, rebounding from the daily low near 1.1711.

NZD/USD trades around 0.5980 on Wednesday at the time of writing, up 0.27% on the day and extending its rebound for a second consecutive day.

The Pound Sterling advances during the North American session as the Greenback remains unchanged amid uncertainty on US trade policies, as investors wait results of one of the seven megacap companies after the Wall Street close. The GBP/USD trades at 1.3523, up 0.29%.

HSBC Global Research argues that GBP/USD looks expensive versus rate differentials as markets increasingly price a more dovish Bank of England. Sterling remains pressured after a narrow February vote to hold policy.

The Euro (EUR) edges lower against the British Pound (GBP) on Wednesday as investors digest fresh Eurozone inflation figures and Germany’s fourth-quarter Gross Domestic Product (GDP) data.

MUFG’s Head of Research Derek Halpenny highlights renewed Japanese Yen underperformance as Prime Minister Takaichi nominates reflationist-leaning academics Toichiro Asada and Ayano Sato to the BoJ policy board.

USD/CHF edges higher on Wednesday, drawing support from a firmer US Dollar, which is exerting pressure on the Swiss Franc (CHF). At the time of writing, the pair is trading around 0.7746, after bouncing off an intraday low of 0.7719.

BNY’s Head of Markets Macro Strategy Bob Savage highlights that Eurozone January inflation eased to 1.7% year-on-year, with EU inflation at 2.0%. Services remain the main positive contribution, while energy drags.

AUD/USD trades around 0.7090 on Wednesday at the time of writing, up 0.42% on the day, supported by an unexpected acceleration in inflationary pressures in Australia, which revives expectations of a restrictive monetary policy stance.

HSBC Global Research views USD/CAD as largely driven by the broader Dollar trend, with the pair trading slightly below levels implied by rate spreads, reflecting Canadian Dollar resilience. Elevated Oil prices linked to Middle East tensions are supportive.

The Japanese Yen plunges against its major currency peers, is down 0.6% to near 156.80 against the US Dollar (USD) during the European trading session on Wednesday.

Rabobank’s Jane Foley notes that Prime Minister Takaichi’s decision to nominate reflationist academics to the BoJ Board has unsettled the Japanese Yen and JGBs, but she argues the overall policy tilt is unlikely to change significantly.

EUR/JPY trades around 184.60 on Wednesday at the time of writing, up 0.58% on the day, as the Japanese Yen (JPY) remains under pressure against the Euro (EUR). The bullish momentum in the cross comes amid growing uncertainty about the pace of monetary policy normalization in Japan.

Eurozone Core Harmonized Index of Consumer Prices (MoM) remains at -1.1% in January

Eurozone Core Harmonized Index of Consumer Prices (YoY) in line with forecasts (2.2%) in January

Eurozone Harmonized Index of Consumer Prices (YoY) meets forecasts (1.7%) in January

Eurozone Harmonized Index of Consumer Prices (MoM) came in at -0.6% below forecasts (-0.5%) in January

Societe Generale analysts note that AUD/USD has broken out of a multi‑month consolidation and is trading near its 2023 peak after a stronger‑than‑expected Australian core CPI print.

HSBC Global Research highlights that EUR/USD has been steady despite EU–US trade uncertainty, with much US policy risk already priced. The bank expects the pair to move back toward the upper end of its recent range without breaking higher.

Switzerland ZEW Survey – Expectations rose from previous -4.7 to 9.8 in February

The GBP/JPY cross is seen building on the previous day's strong move up and gaining some follow-through positive traction for the second consecutive day on Wednesday.