Silver price rallies to a new all-time high of $67.45 even though US Treasury yields and the Dollar remained firm on Friday, amid the lack of catalysts, except for the US Consumer Sentiment poll made by the University of Michigan, which showed that US households are trimming spending on durable good

The Japanese Yen (JPY) weakens sharply against the US Dollar (USD) on Friday as the Yen slumps across the board following the Bank of Japan’s interest rate decision. At the time of writing, USD/JPY is trading around 157.48, up nearly 1.20%, its highest level since November 21.

The Canadian Dollar (CAD) trades little changed against the US Dollar (USD) on Friday, as a rebound in the Greenback keeps USD/CAD confined within its week-old range. At the time of writing, the pair is trading around 1.3784, recovering slightly after dipping to an intraday low near 1.3755.

The GBP/USD hovers around familiar levels yet it has dropped below the 1.3400 mark on Friday after Retail Sales in the UK missed estimates and Fed speakers crossed the wires. At the time of writing, the pair trades at around 1.3370, virtually unchanged.

Pound Sterling’s (GBP) post-BoE push through 1.34 has reversed alongside a broader US Dollar (USD) rebound, leaving GBP/USD back near the middle of its recent range.

The Euro (EUR) failed to sustain gains following the European Central Bank (ECB) decision, even as unchanged rates and upgraded growth projections reinforced the view that the easing cycle has ended, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Canadian Dollar (CAD) is edging lower in tandem with its peers as the US Dollar (USD) firms into the end of the week, though downside pressure remains contained.

The Euro (EUR) rebounds against the British Pound (GBP) on Friday, as investors reassess the monetary policy outlooks of both the Bank of England (BoE) and the European Central Bank (ECB) following their interest rate decisions on Thursday.

The Euro (EUR) trades slightly firmer against the Swiss Franc (CHF) on Friday after slipping to over three-week lows in the previous day following the European Central Bank’s (ECB) monetary policy decision.

Today’s decision by the BoJ to hike its policy rate by 25 bps as expected has failed to support the JPY. Indeed, USD/JPY has pushed above the 157.00 level this morning marking its highest levels for almost a month.

GBP/USD is trading in a tight range around 1.3375 after testing an intra-day high of 1.3446 yesterday.

Pound Sterling (GBP) initially surged following the Bank of England’s (BoE) 25bp rate cut to 3.75%, but gains later eased as markets digested the less dovish-than-expected guidance.

EUR/USD softened to 1.1710 after French PM Lecornu confirmed that Parliament will miss year-end budget approval, forcing a special rollover law.

The European Central Bank (ECB) kept policy rates unchanged, reinforcing its flexible, data-dependent stance. While not committing to a hike, President Lagarde emphasized that all options remain on the table, supporting expectations that the easing cycle may have ended.

The Australian Dollar posts marginal losses against the USD in a calm trading session on Friday.

Russia Interest Rate Decision meets forecasts (16%)

The Bank of England’s (BoE) 25bp rate cut to 3.75% came with a cautious message, limiting dovish surprise and offering modest support to sterling despite slowing growth and still-elevated inflation, Commerzbank's FX analyst Norman Liebke notes.

The Pound Sterling (GBP) gained modest support after a less-dovish Bank of England (BoE) message, but expectations of further rate cuts in early 2026 should keep EUR/GBP underpinned near 0.87, ING's FX analyst Chris Turner notes.

The Bank of Japan (BoJ) raised rates to a 30-year high and signaled further hikes, but the yen weakened as markets judged the tightening path too slow to drive a near-term Japanese Yen (JPY) rebound, Commerzbank's FX analyst Volkmar Baur notes.

USD/JPY has retreated from strong resistance near 157.90 but remains supported above the 50-day moving average, with near-term price action likely to stay rangebound unless a clear break above 156.95 triggers renewed upside momentum, Société Générale's FX analysts note.

EUR/USD extends losses for the fourth consecutive day on Friday, trading at 1.1715 at the time of writing, and on track to close the week slightly lower after having rallied nearly 2% over the previous three weeks.

The USD/JPY is up 0.85% to near 156.90 during the European trading session on Friday. The pair surges as the Japanese Yen (JPY) underperforms across the board, following the Bank of Japan (BoJ) monetary policy announcement.

The Pound Sterling (GBP) faces mild selling pressure against its major peers in Friday's early European session after data from the United Kingdom (UK) showed that Retail Sales unexpectedly declined in November.

France Producer Prices (MoM) rose from previous 0.3% to 1.1% in November

The NZD/USD pair attracts some sellers to around 0.5760 during the early European trading hours on Friday, pressured by renewed US Dollar (USD) demand. Traders will keep an eye on the University of Michigan Consumer Sentiment Index and UoM Consumer Inflation Expectations data later on Friday. 

GBP/JPY reaches fresh record highs after registering little losses in the previous session, trading at 209.18 during the early European hours on Friday. A look at the daily chart shows the currency cross is moving upwards within an ascending channel pattern, indicating a persistent bullish bias.

Germany Producer Price Index (MoM) below forecasts (0.1%) in November: Actual (0%)

Germany Producer Price Index (YoY) came in at -2.3%, below expectations (-2.2%) in November

The USD/CAD pair trades higher around 1.3790 in the early European trading session on Friday. The Loonie pair edges up as the US Dollar (USD) regains ground after being jolted by soft United States (US) Consumer Price Index (CPI) data for November.

EUR/USD remains weaker for the fourth consecutive session, trading around 1.1720 during the Asian hours on Friday. On the daily chart, technical analysis indicates a prevailing bullish bias, as the pair remains within the ascending channel pattern.