The Australian Dollar (AUD)has bounced up from intra-week lows against the US Dollar (USD) on Friday, although the daily chart remains negative.

The British Pound (GBP) is up 0.2% to near 1.3557 against the US Dollar (USD) during the European trading session on Wednesday.

Brown Brothers Harriman’s (BBH) Elias Haddad reports the Australian Dollar is underperforming as bond yields fall after Q2 wage growth matched expectations. Haddad argues this outcome will keep the RBA on hold, with private sector wage gains at a four‑year low.

EUR/JPY trades around 184.70 on Wednesday at the time of writing, edging 0.03% lower on the day.

Commerzbank FX analysts Norman Liebke and Michael Pfister see the Brazilian Real (BRL) supported by the Brazilian Central Bank’s (BCB) hawkish stance and still-elevated real interest rates.

EUR/USD rises after registering minor losses in the previous day, trading around 1.1600 during the European hours on Wednesday. The pair holds ground as the Euro (EUR) remains stronger following the release of Eurozone Harmonized Index of Consumer Prices (HICP) data for July.

The Swiss Franc (CHF) appreciates moderately on Wednesday, as the US Dollar (USD) pulls back against major peers, with investors bracing for the release of the minutes of July’s Federal Reserve (Fed) monetary policy meeting, due later on the day.

Commerzbank FX analysts Charlie Lay and Moses Lim see USD/INR staying broadly stable as the Reserve Bank of India (RBI) keeps the policy repo rate at 5.25% and remains in wait-and-see mode.

The US Dollar (USD) resumes its broader bearish trend with the Canadian Dollar (CAD) drawing support from higher Oil prices and a deal with the US to pause 50% tariffs on Canadian exports.

Derek Halpenny at MUFG notes that UK July CPI came in broadly as expected, with the headline rate rising to 2.9% mainly on higher utility bills, while services inflation eased.

Michael Pfister at Commerzbank reports that new 50% US tariffs on selected Canadian goods have been delayed by three days as an agreement is reportedly close, prompting only a modest Canadian Dollar (CAD) rebound amid uncertainty over the deal’s durability.

Silver (XAG/USD) trades lower for the second consecutive day on Wednesday, exploring prices below the $63.00 level at the time of writing, after a reversal from the $66.50 area on Tuesday.

The NZD/USD pair trades with mild losses around 0.5875 during the early European session on Wednesday. Escalating tensions in the Middle East boost a safe-haven currency such as the US Dollar (USD) and act as a headwind for the pair. 

The Australian Dollar (AUD) underperforms its major currency peers on Wednesday, trading 0.17% lower at around 0.7070 against the US Dollar (USD) during the European trading session.

The EUR/GBP cross pares gains around 0.8555 during the early European trading hours on Wednesday. The British Pound (GBP) attracts some buyers against the Euro (EUR) following the UK inflation data.

The British Pound (GBP) ticked up against the US Dollar (USD) on Monday, following the release of UK inflation data.

OCBC’s Sim Moh Siong and Christopher Wong highlight that rising long-end Japanese government bond yields are increasingly influencing global curves and the Japanese Yen.

The British Pound (GBP) reflects a slight market action against the Japanese Yen (JPY) near its day’s low at around 215.70 after the release of the United Kingdom (UK) Consumer Price Index (CPI) data for July.

The Japanese Yen (JPY) recovers strongly against its major currency peers on Wednesday after underperforming in the past few days. The US Dollar (USD) is down 0.25% against the Japanese currency at around 159.20 during the early European trading session.

The Indian Rupee (INR) opens on a flat note against the US Dollar (USD), but is close to its two-week low at around 95.75.

The EUR/USD pair trades in positive territory near 1.1585 during the early European trading hours on Wednesday. The Euro (EUR) edges higher against the US Dollar (USD) as the German ZEW survey beat forecasts.

USD/CHF depreciates after registering modest gains in the previous day, trading around 0.8120 during the Asian hours on Wednesday. The pair depreciates as the US Dollar (USD) weakens amid easing expectations of a US interest rate hike next month.

The EUR/JPY cross trades in negative territory around 184.60 during the early European trading hours on Wednesday. The Japanese Yen (JPY) edges higher against the Euro (EUR) amid hawkish signals from the Bank of Japan (BoJ).

The USD/CAD pair meets with fresh supply during the Asian session on Wednesday and, for now, seems to have stalled its recovery from the lowest level since June 3, touched earlier this week.

The USD/JPY pair edges lower to around 159.45 during the Asian trading hours on Wednesday. The Japanese Yen (JPY) strengthens against the US Dollar (USD) as market expectations grow for another interest rate hike by the Bank of Japan (BoJ).

The United Kingdom (UK) Office for National Statistics (ONS) will release the high-impact Consumer Price Index (CPI) report for July at 06:00 GMT. 

The NZD/USD pair is seen extending this week's retracement slide from the 0.5925 area, or the highest since June 3, and drifting lower for the second straight day on Wednesday.

The GBP/USD pair loses ground to around 1.3535 during the early Asian trading hours on Wednesday. The British Pound (GBP) weakens against the US Dollar (USD) amid disappointing UK labour data.

The USD/CAD pair struggles to capitalize on this week's modest recovery from its lowest level since June 3 and oscillates in a range around the 1.3900 mark during the Asian session on Wednesday.

On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7854 compared to the previous day's fix of 6.7905 and 6.7421 Reuters estimate.