United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note EUR/USD under mild downward pressure after slipping toward 1.14, but expects any intraday decline to be limited to a test of 1.1380, with major support at 1.1360 unlikely to be challenged.

The Japanese Yen (JPY) hovers near a multi-decade high at around 163.24 against the US Dollar (USD) during the early European trading session on Wednesday. The USD/JPY pair reflects significant strength as the Japanese currency underperforms due to surging Oil prices.

The EUR/USD pair holds positive ground near 1.1410 during the early European trading hours on Wednesday, bolstered by a hawkish tone from the European Central Bank (ECB).

USD/CHF continues its winning streak for the third successive day, trading around 0.8130 during the Asian hours on Wednesday. The pair appreciates as the US Dollar (USD) receives support from growing risk aversion tied to escalating geopolitical tensions between the United States and Iran.

The AUD/USD pair struggles to capitalize on a modest Asian session uptick and extends its sideways consolidative price move around the 0.7000 psychological mark on Wednesday.

The GBP/USD pair edges higher during the Asian session on Wednesday, snapping a four-day losing streak to the 1.3360 area, or a one-week low, touched the previous day.

EUR/JPY extends its gains for the second successive day, trading around 186.20 during the Asian hours on Wednesday. The currency cross is retaining a bullish near-term bias as it holds above both the nine-period and 50-period Exponential Moving Averages (EMAs).

Silver price (XAG/USD) gains ground for the fourth successive day, trading around $59.70 per troy ounce during the Asian hours on Wednesday. Silver prices are surging despite rising rate-hike expectations, as powerful market forces outweigh the drag of higher interest rates.

The UK Office for National Statistics (ONS) will release the June Consumer Price Index (CPI) figures on Wednesday at 06:00 GMT, a print that will matter for markets. Consensus expectations point to inflation pressures still above the Bank of England’s (BoE) target, although losing further momentum.

The USD/CAD pair struggles to capitalize on its strong weekly gains registered over the past two days and edges lower during the Asian session on Wednesday. Spot prices currently trade around the 1.4100 round figure, though the fundamental backdrop warrants caution for aggressive bearish traders.

NZD/USD depreciates after opening at a bullish gap, remaining in the positive territory and trading around 0.5830 during the Asian hours on Wednesday.

The AUD/USD pair gathers strength to near 0.7010 during the early Asian trading hours on Wednesday. The Australian Dollar (AUD) strengthens against the US Dollar (USD) as the likelihood of the Reserve Bank of Australia (RBA) interest rate hike rises.

On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7933 compared to the previous day's fix of 6.7917 and 6.7737 Reuters estimate.

The USD/JPY enters a bullish consolidation phase during the Asian session on Wednesday and holds steady above the 163.00 mark, near its highest level since 1986 set the previous day.

The British Pound received a labour market report on Tuesday that beat consensus on nearly every line, and sold off anyway.

The GBP/JPY consolidates around 218.20 as the Pound Sterling loses momentum amid the new PM, Andy Burnham, taking office. Fears of a possible intervention by Japanese authorities capped the cross-pair advance, which remains trading near year-to-date (YTD) highs seen on July 15.

The Australian Dollar spent Tuesday doing a convincing impression of movement, climbing from just below the 0.7000 handle to a session high short of 0.7050 before handing the entire advance back through the North American afternoon.

The USD/JPY extends its rally, hitting 40-year highs above 163.00, as the Greenback continues to gain ground versus the Japanese Yen. At the time of writing, the USD/JPY trades at 163.19, slightly shy of the multi-decade high of 163.24.

USD/CAD trades just above the 1.4100 handle into the North American afternoon, up around a fifth of one percent and on track for a second consecutive daily advance.

Commerzbank’s Dr. Henry Hao and Moses Lim highlight that the South Korean government has unveiled a major South Korean Won (KRW) internationalisation roadmap, including unlimited KRW transactions with foreign institutions from January 2027 and broader access to onshore markets.

BNY’s Geoff Yu argues that Prime Minister Andy Burnham’s removal of Value Added Tax (VAT) on household electricity is a test of the United Kingdom’s (UK) fiscal protection strategy.

The Pound Sterling loses some ground against the US Dollar, down by 0.48%, as risk appetite in the foreign exchange markets deteriorates, with the Greenback reclaiming key technical levels in the US Dollar Index (DXY) amid the escalation of the US-Iran conflict.

USD/CHF edges higher as escalating tensions in the Middle East support the US Dollar (USD), with buyers eyeing a breakout above the 0.8150 resistance level that has capped gains since July 2025. At the time of writing, the pair trades around 0.8123, up 0.27% on the day.

USD/JPY trades higher near 163.00 on Tuesday after briefly reaching 163.04, marking its first move above the 163.00 level since December 1986. The US Dollar (USD) remains supported by safe-haven demand as investors assess renewed Middle East tensions and rising Oil prices.

AUD/USD trades lower near the 0.7010 area on Tuesday, although the pair has retreated from its four-week high. The Australian Dollar (AUD) remains above the psychological 0.7000 level as softer United States (US) economic data limits demand for the US Dollar (USD).

EUR/USD edges lower on Tuesday as the US Dollar (USD) strengthens amid heightened tensions in the Middle East. At the time of writing, the pair trades around 1.1405, hovering near one-week lows.

BNY’s Geoff Yu explains that new 50% U.S. tariffs on selected Canadian goods are a direct trade shock, with Washington citing unfair treatment of US exports and ruling out United States-Mexico-Canada Agreement (USMCA) exemptions.

Scotiabank strategists Shaun Osborne and Eric Theoret highlight the Euro (EUR) trading quietly against the US Dollar (USD) in a tight low-1.14 range, with limited reaction to stronger ZEW sentiment data. Short-term rates have stabilized after a hawkish repricing, supporting EUR via yield spreads.

Brown Brothers Harriman’s (BBH) Elias Haddad highlights that the sell-off in gilts and British Pound (GBP) has stabilized after Prime Minister Andy Burnham appointed John Healey as Chancellor and pledged to stick to fiscal rules.

USD/CAD trades on the front foot as tensions in the Middle East keep the US Dollar (USD) firmly bid, while the Canadian Dollar also faces pressure from renewed trade frictions with the United States.