The EUR/USD pair trades marginally higher to near 1.1800 during the European trading session on Thursday.

MUFG’s Head of Research Derek Halpenny argues the Japanese Yen would likely underperform if geopolitical risks escalate, with USD/JPY already sharply higher from last week’s low.

Silver price (XAG/USD) extends its gains for the second successive session, trading around $79.20 per troy ounce during the European hours on Thursday.

Commerzbank’s Antje Praefcke argues that weak UK employment data and still-elevated inflation leave the Bank of England inclined to cut rates again, with March remaining a live option after a close February decision.

Here is what you need to know on Thursday, February 19:

The Pound Sterling (GBP) trades with caution near 1.3500 against the US Dollar (USD) during the European trading session on Thursday, the lowest level seen in almost four weeks.

The USD/JPY pair gains positive traction for the second straight day – also marking the third day of a move up in the previous four – and climbs to over a one-week high, around the 155.35 area, on Thursday.

The USD/CAD pair clings to Wednesday’s gains near 1.3700 during the European trading session on Thursday. The Loonie pair shows strength as the US Dollar (USD) trades broadly firm, following the release of the Federal Open Market Committee (FOMC) minutes of the January policy meeting on Wednesday.

Scotiabank Scotiabank analysts Shaun Osborne and Eric Theoret note the Canadian Dollar is slightly weaker but holding above 1.37, with USDCAD tracking broader Dollar moves. Their fair value estimate has edged up to 1.3625, reflecting less favourable drivers for the CAD.

The USD/INR pair ended Wednesday’s session on a flat note around 90.90 as investors were awaiting the release of Federal Open Market Committee (FOMC) minutes of the January policy meeting.

The Australian Dollar (AUD) surrenders a majority of its early gains and flattens to near 0.7045 against the US Dollar (USD) during the European trading session on Thursday.

The NZD/USD pair trades on a flat note around 0.5965 during the early European trading hours on Thursday. However, a dovish hold from the Reserve Bank of New Zealand (RBNZ) weighs on the Kiwi against the US Dollar (USD).

The GBP/JPY cross attracts buyers for the second consecutive day and climbs to the top end of its weekly range during the Asian session on Thursday.

Silver price (XAG/USD) extends its gains for the second successive session, trading around $78.00 per troy ounce during the Asian hours on Thursday. The precious metal Silver receives support from rising safe-haven demand amid persistent tensions between the United States (US) and Iran.

The EUR/JPY cross attracts some buyers near 182.90 during the early European session on Thursday.

The USD/CAD pair touches a nearly two-week high during the Asian session on Thursday and looks to extend the recent move up witnessed over the past week or so. Meanwhile, bulls await a sustained strength and acceptance above the 1.3700 mark before placing fresh bets amid mixed fundamental cues.

EUR/USD gains ground after three days of losses, trading around 1.1790 during the Asian hours on Thursday. The 14-day Relative Strength Index (RSI) momentum indicator at 47 (neutral) reflects easing momentum. The RSI below 50 keeps momentum balanced and could limit follow-through.

USD/CHF remains in the negative territory after paring daily losses, trading near 0.7720 during the Asian hours on Thursday. The pair struggles as the Swiss Franc (CHF) draws safe-haven support amid persistent tensions between the United States and Iran, alongside stalled Ukraine-Russia talks.

The GBP/USD pair is seen consolidating its weekly losses registered over the past three days and oscillating in a narrow range near a four-week trough, touched during the Asians session on Thursday.

EUR/JPY extends its gains for the second successive session, trading around 182.80 during the Asian hours on Thursday. The upside of the currency cross could be restrained as the Japanese Yen (JPY) may find support from expectations that the Bank of Japan (BoJ) will continue tightening policy.

The USD/JPY pair gains traction to around 155.00 during the Asian trading hours on Thursday. The US Dollar (USD) strengthens against the Japanese Yen (JPY) following hawkish Federal Reserve (Fed) meeting minutes.

The USD/CAD pair loses ground to around 1.3695 during the Asian trading hours on Thursday, pressured by higher crude oil prices.

The NZD/USD pair recovers slightly from the vicinity of mid-0.5900s or a nearly two-week low set during the Asian session on Thursday, and recovers a part of the previous day's dovish Reserve Bank of New Zealand (RBNZ)-inspired losses.

The AUD/JPY cross trades on a flat note near 109.00 during the Asian trading hours on Thursday. The release of the Australian employment report for January fails to boost the Australian Dollar (AUD) against the Japanese Yen (JPY).

Australian Dollar (AUD) inches higher against the US Dollar (USD) following the release of mixed employment data from Australia on Thursday.

South Korea Trade Balance dipped from previous $8.74B to $8.72B in December

The EUR/USD pair tumbles to a near two-week low around 1.1785 during the early Asian session on Thursday. The US Dollar (USD) strengthens against the Euro (EUR) on hawkish FOMC minutes that revived speculation about potential interest rate hikes if inflation remains elevated. 

The Pound Sterling (GBP) continued to backslide under sustained pressure on Wednesday, following through after the UK employment report on Tuesday showed a labour market deteriorating faster than expected.

USD/JPY bounced on Wednesday after the Japanese Yen's (JPY) recent rally finally ran out of steam, which has been its best weekly performance since November 2024.

The AUD/NZD cross spiked higher on Wednesday as the Reserve Bank of New Zealand's (RBNZ) dovish hold triggered a broad New Zealand Dollar (NZD) sell-off, while the Australian Dollar (AUD) remained supported by the Reserve Bank of Australia's (RBA) recent hawkish posturing.