The Pound (GBP) remains practically flat against the US Dollar (USD) on Thursday, trading at 1.3520 at the moment of writing, and consolidating losses after pulling back from 1.3650 highs earlier in the week.

Michael Wan at MUFG reports that the Japanese Yen (JPY) has borne the brunt of renewed US Dollar (USD) strength following hotter United States (US) inflation data. USD/JPY climbed toward prior highs as markets priced in additional Federal Reserve (Fed) tightening.

The Swiss Franc (CHF) trades flat against its major currency peers, wobbling around 0.7820 against the US Dollar (USD) during the European trading session on Thursday.

The AUD/JPY cross trades in positive territory near 114.65 during the early European session on Thursday. Traders will closely monitor the outcome of the US President Donald Trump-Chinese President Xi Jinping summit in Beijing later on Thursday and Friday.  

The NZD/USD pair trades marginally under pressure around 0.5935 during the late Asian trading session on Thursday.

The Indian Rupee (INR) holds onto almost week-long losses against the US Dollar (USD) in the opening session on Thursday.

The EUR/JPY cross posts modest gains around 184.90 during the early European session on Thursday. The Euro (EUR) strengthens against the Japanese Yen (JPY) amid hawkish signals by European Central Bank (ECB) officials.

EUR/USD inches higher after three days of losses, trading around 1.1710 during the Asian hours on Thursday. The daily chart technical analysis indicates a potential for a bearish reversal as the pair is positioned on the lower boundary of the ascending channel pattern.

GBP/USD holds ground following three days of losses, trading around 1.3520 during the Asian hours on Thursday. Traders await the preliminary UK Gross Domestic Product (GDP) for the first quarter of 2026, along with Industrial and Manufacturing Production data due later in the day.

Silver price (XAG/USD) loses its daily gains and halts its six-day winning streak, trading around $87.30 per troy ounce during the Asian hours on Thursday. Traders await the meeting between US President Donald Trump and Chinese President Xi Jinping in Beijing.

The AUD/USD pair loses ground to near 0.7250 during the Asian trading hours on Thursday. Hotter-than-expected US inflation data provide some support to the US Dollar (USD) against the Australian Dollar (AUD).

USD/CAD remains calm after six days of gains, trading around 1.3700 during the Asian hours on Thursday. The pair stays silent as the US Dollar (USD) moves little as market caution prevails ahead of a pivotal summit in Beijing between US President Donald Trump and Chinese President Xi Jinping.

The USD/JPY pair trades on a flat note near 157.85 during the early Asian session on Thursday.

The GBP/JPY hovers around 213.50 on Wednesday, finishing the session barely unchanged, up a mediocre 0.04% as the Yen weakened against most G10 FX currencies.

GBP/USD ended Wednesday little changed on a net basis, though the session included a sharp intraday swing of around 65 pips.

NZD/USD ended Wednesday virtually flat, though the session produced a sharp two-way range of close to 50 pips.

AUD/USD gained roughly 0.3% on Wednesday, climbing through the session before peaking just below the recent cycle highs and pulling back into the close.

USD/JPY trades with a mild upside bias on Wednesday as the Japanese Yen (JPY) remains under pressure from a stronger US Dollar (USD) and rising Oil prices linked to the Middle East war, given Japan’s heavy reliance on imported energy.

USD/CAD trades without a clear direction on Wednesday, hovering around 1.3700 at the time of writing, as investors balance persistent US Dollar (USD) strength against support for the Canadian Dollar (CAD) from elevated Oil prices.

Scotiabank strategists Shaun Osborne and Eric Theoret report EUR/USD trading softer near 1.1711, extending its recent downward drift as markets weigh US–Iran tensions and UK political risks alongside German reform uncertainty.

USD/JPY trades around 157.80 on Wednesday at the time of writing, up 0.13% on the day, as the US Dollar (USD) continues to benefit from renewed hawkish expectations surrounding the Federal Reserve’s (Fed) monetary policy outlook.

BNY’s Bob Savage notes Japanese 20-year yields have climbed to 1997 highs as JGBs track U.S. moves, with markets watching USD/JPY holding below 158. A record current account surplus and supportive comments from U.S. officials reinforce expectations for a BoJ rate hike in June.

The Euro (EUR) trades under pressure against the US Dollar (USD) on Wednesday, with EUR/USD extending losses for a second consecutive day as uncertainty surrounding the US-Iran negotiations and hotter-than-expected US inflation data continue to support the Greenback.

The AUD/USD pair is trading at a neutral basis near the 0.7250 level after the US Producer Price Index (PPI) for April came in unexpectedly hot.

Scotiabank strategists Shaun Osborne and Eric Theoret note USD/CAD is steady around 1.3695, with the Canadian Dollar (CAD) seen as cheap versus a fair value estimate near 1.3510.

GBP/JPY extends losses for the second consecutive day on Wednesday as the British Pound (GBP) comes under broad pressure, weighed down by rising political uncertainty in the United Kingdom.

Germany Current Account n.s.a. increased to €23.6B in March from previous €22B

Brazil Retail Sales (MoM) registered at 0.5% above expectations (0%) in March

The GBP/USD pair is down 0.25% to near 1.3500 during the European trading session on Wednesday. The Cable faces selling pressure as the US Dollar (USD) trades firmly due to growing expectations that the Federal Reserve (Fed) will deliver at least one interest rate hike this year.

The Euro (EUR) extends losses against the Dollar (USD) for the second consecutive day on Wednesday, trading below 1.1700 at the time of writing after rejection at 1.1790 on Tuesday.