The USD/CAD pair lacks any firm intraday directional bias and oscillates in a narrow band below the 1.3900 mark heading into the European session on Tuesday.

The NZD/USD pair trades on a firmer note near 0.5770 during the early European trading hours on Tuesday. The US Dollar (USD) remains under selling pressure against the New Zealand Dollar (NZD) amid renewed concerns over the Federal Reserve’s (Fed) independence.

The GBP/USD pair edges higher to near 1.3470 during the early European session on Tuesday.

The GBP/JPY cross builds on the previous day's breakout momentum through a nearly three-week-old range and gains follow-through positive traction for the third consecutive day on Tuesday.

The EUR/GBP pair trades in a tight range around 0.8650 during the European trading session on Tuesday. The pair consolidates while investors gauge fresh cues about how monetary policy policies by the Bank of England (BoE) and the European Central Bank (ECB) will flair in the near term.

The EUR/JPY cross trades in positive territory for the third consecutive day near 185.20 during the early European session on Tuesday.

USD/CHF loses ground for the second successive day, trading around 0.7970 during the Asian hours on Tuesday. The pair depreciates as the Swiss Franc (CHF) receives support from safe-haven demand amid geopolitical tensions and concerns over Federal Reserve (Fed) independence.

The Indian Rupee (INR) opens lower against the US Dollar (USD) on Tuesday at around 90.52, ahead of trade talks between the United States (US) and India during the day.

EUR/USD edges lower after registering modest gains in the previous session, trading around 1.1660 during the Asian hours on Monday. The 14-day Relative Strength Index (RSI) momentum indicator at 42.69 sits below the 50 midline and is easing, confirming a bearish tilt.

Silver price ( XAG/USD) holds positive ground around $85.75 during the early European session on Tuesday. The white metal is set to retest a record high as traders pile into safe-haven metals amid renewed concerns over the US Federal Reserve (Fed) and its independence.

NZD/USD gains ground for the second successive session, trading around 0.5780 during the Asian hours on Tuesday.

The AUD/JPY cross attracts some follow-through buying for the third consecutive day and climbs to a fresh high since July 2024, around the 106.50-106.55 region, during the Asian session on Tuesday.

The Japanese Yen (JPY) continues its relative underperformance amid speculation that Prime Minister Sanae Takaichi may soon call a snap election to take advantage of strong approval ratings.

USD/CAD remains subdued for the second successive session, trading around 1.3870 during the Asian hours on Tuesday.

The Australian Dollar strengthens against the US Dollar on Tuesday despite Australia’s Westpac Consumer Confidence falling 1.7% month-over-month (MoM) in January to a three-month low of 92.9, extending December’s sharp 9.0% drop amid shifting rate expectations.

The GBP/USD pair edges higher for the second straight day on Tuesday and looks to build on the previous day's recovery from the 1.3390 region, or a three-week low. Spot prices currently trade around the 1.3475 region, up nearly 0.10% for the day.

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Tuesday at 7.0103 compared to the previous day's fix of 7.0108 and 6.9734 Reuters estimate.

The EUR/USD pair holds steady near 1.1665 during the early Asian trading hours on Tuesday. Traders digested the US President Donald Trump administration's threat to indict the Federal Reserve (Fed) after Chair Jerome Powell said on Sunday that he’s under criminal investigation. 

The USD/JPY pair trades in positive territory near 158.10 during the early Asian session on Tuesday. The Japanese Yen (JPY) softens against the US Dollar (USD) amid political concerns in Japan.

The GBP/JPY rises on Monday, courtesy of a risk-off mood that weighed on safe-haven peers like the Japanese Yen and the Dollar, which are trading softer against most currencies. At the time of writing the cross-pair trade at 212.88 up 0.61%.

The Australian Dollar (AUD) gains traction against the US Dollar (USD) on Monday, with AUD/USD snapping a three-day losing streak as broad-based weakness in the Greenback lifts the pair. At the time of writing, AUD/USD trades around 0.6714, up nearly 0.35% on the day.

NZD/USD advances and trades around 0.5770 on Monday, up 0.60% on the day at the time of writing. The US Dollar (USD) weakens against the New Zealand Dollar (NZD) as renewed concerns over the independence of the Federal Reserve (Fed) underpin the pair.

USD/CHF trades around 0.7970 on Monday at the time of writing, down 0.55% on the day, after snapping a four-day winning streak. The pair is weighed down by a stronger Swiss Franc (CHF), supported by safe-haven flows as global markets face heightened geopolitical and political risks.

The Euro (EUR) regains traction against the US Dollar (USD) at the start of the week, as renewed weakness in the Greenback lifts EUR/USD away from one-month lows. At the time of writing, the pair trades around 1.1675, up nearly 0.35% on the day, snapping a seven-day losing streak.

The British Pound stages a comeback on Monday as traders grow risk avers following threats for the US Federal Reserve independence.

The Japanese Yen (JPY) is trading flat to the US Dollar (USD) while underperforming all of the G10 currencies in an environment of broad-based USD weakness, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Pound Sterling (GBP) is up an impressive 0.5% vs. the US Dollar (USD) and outperforming all of the G10 currencies with the exception of New Zealand Dollar (NZD) and Swiss Franc (CHF), Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Euro (EUR) is strong, up 0.4% vs. the US Dollar (USD) and a mid-performer among the G10 currencies in an environment of broad-based USD weakness, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Canadian Dollar (CAD) has picked up a little ground intraday, reflecting the broader pressure on the US Dollar (USD), Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

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