UOB’s Quek Ser Leang and Lee Sue Ann note AUD/USD has pulled back after Monday’s sharper-than-expected drop, with intraday price action now seen confined to a 0.7100–0.7140 band.

Danske Research Team notes that the US Dollar (USD) remained firm, pushing EUR/USD modestly lower as risk sentiment weakened. In the euro area, Germany’s September ZEW survey showed a sharp improvement in current conditions, while expectations disappointed.

Societe Generale highlights GBP/USD trading just above its 200-day moving average, with the August trough around 1.3440–1.3420 acting as a key support zone.

AUD/JPY trades around 110.55 on Wednesday at the time of writing, virtually unchanged on the day.

UOB’s Quek Ser Leang and Lee Sue Ann report USD/JPY has extended its rebound to around 155.08, with modest upward momentum suggesting scope for a test above 155.50, while 156.30 remains a distant cap.

The Eurozone industrial sector activity declines 0.1% in July, according to data published by Eurostat.

The GBP/USD pair attracts fresh sellers following an intraday uptick to the 1.3500 neighborhood and drops to the lower end of its daily range during the first half of the European session on Wednesday.

ING’s Francesco Pesole highlights that the Federal Reserve announcement could push EUR/USD towards the 1.150 target.

The Japanese Yen (JPY) turns flat against the US Dollar (USD) at around 155.00 in the European trading session on Wednesday after recovering its early losses.

The NZD/USD pair bounces off an over two-month low, around the 0.5735 area touched earlier this Wednesday, though it lacks any follow-through buying.

USD/CAD continues its winning streak for the sixth consecutive day, trading around 1.3930 during European hours on Wednesday. The technical analysis of the daily chart indicates that the price is positioned slightly below the top trendline of an ascending channel, suggesting an ongoing bullish bias.

Deutsche Bank’s Sanjay Raja notes that United Kingdom (UK) inflation rose in August, with headline Consumer Price Index (CPI) at 3.1% year-on-year, its highest since December last year. While Core CPI and food inflation remained subdued, energy and services prices showed worrying strength.

The Australian Dollar (AUD) trades slightly lower at around 0.7125 against the US Dollar (USD) during the European trading session on Wednesday.

Commerzbank economists note India’s August CPI rose to 4.8% year-on-year, above the RBI midpoint but still below the central bank’s full-year forecast. They see a more finely balanced policy outlook, with a likely hawkish hold at 5.25%.

The British Pound (GBP) ticks higher against the US Dollar (USD) on Wednesday, although the GBP/USD pair retreated to 1.3480 from session highs at the 1.3500 area, following the release of the UK Consumer Prices Index (CPI) data from August.

UOB’s Quek Ser Leang and Lee Sue Ann keep a cautious stance on EUR/USD after the pair closed almost unchanged near 1.1543.

The British Pound (GBP) retreats from its day’s high of around 209.45 against the Japanese Yen (JPY) to near 209.15 after the release of the United Kingdom (UK) Consumer Price Index (CPI) report of August.

The Euro (EUR) trades with caution at around 1.1545 against the US Dollar (USD) during the early European trading session on Wednesday. The major currency pair is expected to remain under pressure as the Federal Reserve (Fed) is scheduled to announce the monetary policy decision at 18:00 GMT.

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

The USD/JPY pair attracts some buyers for the third straight day and touches a one-week high, around the 155.45-155.50 region, during the Asian session on Wednesday. Spot prices, however, lack follow-through as traders seem hesitant ahead of the key central bank event.

USD/CHF halts its five-day winning streak, trading around 0.8180 during Asian hours on Wednesday. The pair inches lower as the US Dollar (USD) depreciates ahead of the interest rate decision by the Federal Reserve (Fed).

The AUD/JPY cross trades in positive territory around 110.70 during the early European trading hours on Wednesday.

NZD/USD extends its losses for the third consecutive day, trading around 0.5750 during Asian hours on Wednesday.

The AUD/USD pair declines to around 0.7120 during Asian trading hours on Wednesday. Expectations of a US interest rate hike provide some support to the US Dollar (USD) and act as a headwind for the pair. Traders brace for the US Federal Reserve (Fed) interest rate decision later on Wednesday. 

EUR/JPY gains ground for the third successive day, trading around 179.10 during Asian hours on Wednesday. Technical analysis of the daily chart shows the currency cross trading within a descending channel, keeping the overall bias bearish.

The EUR/USD pair sticks to a negative bias for the fifth straight day and trades around the 1.1535-1.1530 area during the Asian session on Wednesday.

The GBP/USD pair loses ground to near 1.3470 during the early Asian trading hours on Wednesday. The US Dollar (USD) strengthens against the British Pound (GBP) on expectations of a US interest rate hike.

On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7628 compared to the previous day's fix of 6.7670 and 6.7148euters estimate.

The USD/CAD pair retains its positive bias for the sixth straight day, trading near the 1.3930 area, a two-week high during the Asian session on Wednesday amid a bullish US Dollar (USD).

The USD/JPY pair holds steady near 155.25 during the early Asian session on Wednesday. Traders prefer to wait on the sidelines ahead of the US Federal Reserve (Fed) interest rate decision later on Wednesday. On Friday, attention will shift to the Bank of Japan (BoJ) interest rate decision.