The AUD/USD pair trades 0.25% higher to near 0.7170 during the European trading session on Wednesday. The Aussie pair gains as the Australian Dollar (AUD) outperforms its peers amid improved market sentiment.

The Euro (EUR) posts marginal gains against the US Dollar (USD) on Wednesday.  The pair, however, remains near the bottom of the last few days’ trading range, around 1.1750, as hopes of a positive outcome from the US-Iran peace negotiations vanish.US President Trump has extended the ceasefire unilat

AUD/JPY inches higher after remaining flat in the previous session, trading around 114.10 during the Asian hours on Wednesday.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann highlight that EUR/USD slipped to 1.1742 as the Dollar firmed on stalled US–Iran talks and weaker German sentiment.

The GBP/JPY pair falls to near 215.10 during the European trading session on Wednesday. The pair drops as the Pound Sterling (GBP) faces selling pressure as the United Kingdom (UK) core Consumer Price Index (CPI) data for March arrives lower than estimates.

The USD/JPY pair adds to its modest intraday losses and moves further away from over a one-week high, around the 159.70 region, touched the previous day. Spot prices drop to the 159.00 neighborhood, or a fresh daily low, during the early European session, though the downside potential seems limited.

The NZD/USD pair gathers strength to near 0.5915 during the early European session on Wednesday. The New Zealand Dollar (NZD) edges higher against the US Dollar (USD) after US President Donald Trump says the US is extending the ceasefire with Iran at Pakistan's request. 

Commerzbank’s Michael Pfister argues that the extended ceasefire with Iran and ongoing closure of the Strait of Hormuz keep global inflation risks elevated, even if EUR/USD does not currently reflect this.

The Pound Sterling (GBP) faces slight selling pressure against its major currency peers after the release of the United Kingdom (UK) Consumer Price Index (CPI) data for March. The British currency drops to near 1.3518 against the US Dollar (USD), but still holds little gains.

The Indian Rupee (INR) weakens further against the US Dollar (USD) on Wednesday, extending its losing streak for the third trading day.

The AUD/JPY cross gains momentum to around 114.05 during the early European session on Wednesday. The Australian Dollar (AUD) edges higher against the Japanese Yen (JPY) on a hawkish tone from the Reserve Bank of Australia (RBA). 

EUR/USD remains subdued for the second consecutive day, trading around 1.1740 during the Asian hours on Wednesday. The pair holds little losses as the US Dollar (USD) gains ground on increased market caution amid ongoing uncertainty surrounding the Middle East conflict.

The USD/CAD pair fails to capitalize on the previous day's modest recovery from the 1.3630 region, or its lowest level since March 13, and remains on the back foot during the Asian session on Wednesday.

The AUD/USD pair trades in positive territory near 0.7160 during the Asian trading hours on Wednesday. However, the potential upside for the pair might be limited amid uncertainty regarding Iran's participation in further peace talks. 

The GBP/JPY cross trades with a positive bias for the third straight day and touches a fresh weekly top, around the 215.35-215.40 region during the Asian session on Wednesday.

The USD/CHF pair trades in a tight range around 0.7800 during the Asian trading session on Wednesday. The Swiss Franc pair consolidates as investors await remarks from Iran regarding the announcement of the ceasefire extension by the United States (US).

EUR/JPY remains subdued for the second successive day, trading around 187.10 during Asian hours on Wednesday. The technical analysis of the daily chart indicates the currency cross is remaining within an ascending channel, signaling a persistent bullish bias.

The NZD/USD pair gathers strength to around 0.5905 during the Asian trading hours on Wednesday. The New Zealand Dollar (NZD) edges higher against the US Dollar (USD) on hotter-than-expected domestic inflation data. 

GBP/USD remains flat after registering modest losses in the previous trading day, hovering around 1.3510 during the Asian hours on Wednesday.

The USD/JPY pair oscillates in a narrow band during the Asian session on Wednesday and currently trades around the 159.30 area, just below a one-week high set the previous day.

The USD/CAD pair trades on a weaker note near 1.3655 during the Asian trading hours on Wednesday. Tensions in the Strait of Hormuz provide some support to the commodity-linked Canadian Dollar (CAD) against the US Dollar (USD). 

On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8635 compared to the previous day's fix of 6.8594 and 6.8233 Reuters estimate.

AUD/USD pares its recent losses from the previous day, trading around 0.7160 during the Asian hours on Wednesday.

The EUR/USD pair trades in negative territory near 1.1750 during the early Asian session on Wednesday. The ongoing conflict between the United States and Iran, as well as uncertainty surrounding the Strait of Hormuz blockade, weighs on the Euro (EUR) against the US Dollar (USD). 

GBP/USD slid 0.15% on Tuesday, settling close to 1.3500 after a volatile session that traded a roughly 60-pip range. Price unwound twice during European and US trade with sharp downside candles, only to bounce back off the lows on each occasion before recovering modestly into the close.

The NZD/USD receded during the American session, recovering toward the 0.5880 area as the US Dollar (USD) lost some traction despite ongoing geopolitical risks and political pressure on the Federal Reserve.

MUFG’s Senior Currency Analyst Lloyd Chan argues that while geopolitical risks stay elevated, valuation metrics such as REER now show meaningful Rupiah undervaluation versus the US Dollar.

USD/CAD holds firm on Tuesday as the US Dollar (USD) steadies after recent weakness, although the pair lacks strong upside momentum as elevated Oil prices provide underlying support to the commodity-linked Canadian Dollar (CAD).

Rabobank’s Global Strategist Michael Every highlights a complex European backdrop for the Euro (EUR), with Ukraine’s battlefield gains, EU financing plans, and internal political splits.

Scotiabank strategists Shaun Osborne and Eric Theoret observes the Canadian Dollar (CAD) is modestly softer as USD stabilizes, but stresses the broader USD/CAD bear trend remains intact.