The AUD/USD pair gains traction to near 0.7135 during the Asian trading hours on Friday. The US Dollar (USD) weakens against the Australian Dollar (AUD) and is set for a weekly loss as traders viewed the US Treasury's bond buyback gambit as merely a temporary fix. 

Silver price (XAG/USD) extends its gains for the third successive day, trading around $68.70 per troy ounce during the Asian hours on Friday. Silver prices rise as investors turn to safe-haven metals amid heightened volatility across global currency and bond markets.

USD/CAD extends its losses for the third successive day, trading around 1.3770 during the Asian hours on Friday. The currency pair loses ground as the commodity-linked Canadian Dollar (CAD) receives support from rising crude oil prices.

The NZD/USD pair attracts buyers for the third straight day and climbs to a fresh high since early June, around the 0.5965-0.5970 region during the Asian session on Friday. Spot prices remain on track to register strong weekly gains amid a supportive fundamental backdrop.

EUR/USD remains stronger for the third consecutive day, trading around 1.1680 during the Asian hours on Friday. The Euro (EUR) gains ground against the US Dollar (USD), bolstered by strong economic fundamentals across the region.

On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7817 compared to the previous day's fix of 6.7808 and 6.7262 Reuters estimate.

The USD/JPY pair holds steady near 159.05 during the early Asian session on Friday. Growing speculation that the Bank of Japan (BoJ) could raise interest rates next month offsets the weaker Gross Domestic Product (GDP) data.

The GBP/JPY advanced over 0.72%, refreshing a 14-day high of 216.90, with buyers eyeing a breakout above 217.00, which could open the door to a retest of the yearly highs hit in mid-July. The pair trades at 216.73 after bouncing off the daily low of 215.04.

The Australian Dollar retreated against the Greenback on Thursday as US bond yields resumed their advance, despite the US Treasury's efforts to cap elevated yields following its announcement of a long-end bond buyback program. The AUD/USD trades at 0.7114, down 0.14%.

The preliminary reading of Australia's S&P Global Manufacturing Purchasing Managers Index (PMI) came in at 52.0 in August versus 52.0 prior, the latest data published by S&P Global showed on Friday.

USD/JPY trades near 159.00 late in the session, 0.5% higher on the day and a little over a point clear of a rising 200-day Exponential Moving Average (EMA) near 158.00.

GBP/USD trades just beneath 1.3650 late in the session, 0.2% higher on the day and at its highest level in more than four months.

The Euro remains steady below 1.1700 after failing to hold gains above it, despite hitting a three-month high. Broad US Dollar strength kept EUR/USD from ending Thursday’s session above the 1.1700 mark, with the pair finishing at around familiar levels, unchanged from Thursday’s opening price.

The New Zealand Dollar (NZD) is holding near the top of its recent range against the US Dollar (USD), sitting in the mid-0.5900s at the time of writing after touching its best level since early June.

USD/JPY trades north of the 159.00 barrier at the time of writing on Thursday, higher on the day and clawing back most of the previous session's losses. The move owes more to a steadier US Dollar (USD) than to anything out of Japan, with the Greenback recovering after slipping to a three-month low.

The Mexican Peso holds firm versus the Greenback as Banxico adopted a cautious stance regarding monetary policy, while jobs data in the US revealed that the labour market is stable. The USD/MXN pair exchanges hands at 16.95, virtually unchanged.

USD/JPY rebounds on Thursday, recovering most of the previous day’s losses as the US Dollar (USD) stages a modest recovery after falling to a three-month low. At the time of writing, USD/JPY trades around 159.05, up roughly 0.55% on the day.

The minutes of the Bank of Mexico (Banxico) August’s August meeting revealed that the central bank is expected to hold rates steady for some time, despite the resumption of the disinflation process.

NZD/USD advances for the second consecutive day on Thursday, trading around 0.5940 at the time of writing, up 0.12% on the day.

AUD/USD is trading in the 0.7100 neighborhood at the time of writing on Thursday, holding close to multi-week highs after a steady climb off its earlier lows. The pair is marginally weaker on the day as the US Dollar (USD) regains a little ground, but the broader uptrend remains intact.

The Pound Sterling advances on Thursday during the North American session, up 0.25% after US economic data revealed that the labour market remains solid, despite a weaker Nonfarm Payrolls in July. The GBP/USD trades at 1.3639 after reaching a daily low of 1.3594.

USD/CHF regains ground on Thursday as the US Dollar (USD) stabilises following the previous day’s broad weakness, which pushed the pair below the 0.8000 psychological mark and to its lowest level since June 17, weakening the near-term bullish structure.

USD/CAD trims part of its earlier losses on Thursday as the US Dollar (USD) stages a modest recovery following the previous day’s sharp selloff. However, the pair stays on the back foot as higher Oil prices support the commodity-linked Canadian Dollar (CAD).

Scotiabank strategists Shaun Osborne and Eric Theoret note that GBP/USD gains into the mid-1.36s are driven more by US Dollar (USD) weakness than intrinsic British Pound (GBP) strength, though United Kingdom (UK) survey data show improving manufacturing orders and pricing power.

EUR/GBP trades near the 0.8560s zone, having drifted steadily lower from near the 0.8585 area after failing to hold its push higher. The cross is down 0.15% in Thursday's American session with traders squaring up ahead of a data-heavy Friday.

Lloyd Chan at MUFG highlights that the Korean Won has outperformed regional peers, helped by a softer Dollar and a resilient semiconductor and AI investment cycle supporting exports and inflows.

BNY Mellon’s Geoff Yu reports the Swedish Riksbank left its policy rate at 1.75%, judging the stance well balanced amid stronger growth and inflation but a softer labor market. Underlying inflation is near 2% and summer readings beat forecasts.

Scotiabank strategists Shaun Osborne and Eric Theoret report that EUR/USD gains are being driven mainly by broad US Dollar (USD) weakness, with front-end spreads narrowing since late June and supporting Euro (EUR) fundamentals.

Scotiabank strategists Shaun Osborne and Eric Theoret highlight that USD/CAD is under pressure as broad US Dollar (USD) weakness combines with tentative progress on a US-Canada trade deal.

EUR/USD trims part of its earlier gains on Thursday as the US Dollar (USD) stabilises following the previous day’s sharp selloff. At the time of writing, the pair trades around 1.1686 after touching an intraday high of 1.1710, its highest level since May 14.