The Pound Sterling registers back-to-back bearish days over the last two days, down about 0.05% after US economic data revealed that the labour market remains solid, while investors eye Central Bank speakers at the Jackson Hole Symposium.

USD/JPY trades in a narrow range below 160 on Thursday, with neither side able to build strong momentum. The US Dollar (USD) is struggling to extend Wednesday’s recovery, while persistent weakness in the Japanese Yen (JPY) continues to keep the pair supported.

EUR/USD reverses its earlier losses on Thursday after coming under pressure on the previous day as the latest US inflation figures helped the US Dollar (USD) regain some lost ground.

Rabobank's Senior FX Strategist Jane Foley discusses EUR/USD dynamics around divergent inflation and policy outlooks in the US and Eurozone.

USD/CAD trades around 1.3870 on Thursday, down a modest 0.05% on the day at the time of writing.

GBP/JPY trades broadly flat on Thursday after Wednesday’s modest pullback ended a four-day winning streak. At the time of writing, the cross trades around 216.45, with momentum indicators suggesting limited buying interest.

MUFG’s Derek Halpenny notes that the Japanese Yen reaction to Deputy Governor Himino’s speech was limited, even as his comments aligned with market expectations for a Bank of Japan rate hike in September.

ING’s Francesco Pesole highlights that the Australian Dollar (AUD) is the only G10 currency gaining this week as hotter July inflation and strong household spending fuel hawkish Reserve Bank of Australia (RBA) expectations.

The New Zealand Dollar (NZD) heads lower for the second consecutive day against a stronger US Dollar (USD) on Monday, as hot US inflation data released on Wednesday has renewed pressure on the US Federal Reserve (Fed) to hike interest rates in the coming months.

Brown Brothers Harriman’s (BBH Elias Haddad notes USD/JPY is stuck between resistance at 160.00 and support at the 200‑day moving average, as Bank of Japan (BoJ) officials maintain hawkish guidance and underlying inflation firms near the 2% target.

The British Pound (GBP) extends losses for the second consecutive day on Thursday, as the US Dollar (USD) strengthens after the hot US inflation report released on Wednesday.

The Australian Dollar (AUD) is up 0.1% at around 0.7180 against the US Dollar (USD) during the European trading session on Thursday. The Aussie pair remains firm this week due to continued outperformance by the antipodean.

EUR/GBP trades around 0.8575 on Thursday at the time of writing, virtually unchanged on the day with a modest gain of 0.05%.

The Euro (EUR) heads lower for the second consecutive day on Thursday, with the  US Dollar (USD) supported by strong US inflation data released on Wednesday.

EUR/JPY trades around 185.65 on Thursday at the time of writing, virtually unchanged on the day. The Euro (EUR) benefits from encouraging German data, while the Japanese Yen (JPY) continues to struggle to attract sustained demand amid concerns over Japan’s fiscal position.

EUR/CAD maintains its position after three days of gains, trading around 1.6170 during the European hours on Thursday. The currency cross remains steady as the Euro (EUR) moves little following a surprisingly upbeat economic data out of Germany.

Silver’s (XAG/USD) pullback from the $70.00 area found buyers above $67.40 on Thursday to trim losses and return to the mid-range of the $68.00s during the European morning session.

The Japanese Yen (JPY) trades in a limited range at around 159.30 against the US Dollar (USD) during the European trading session on Thursday. The USD/JPY pair consolidates as investors await Federal Reserve (Fed) Chairman Kevin Warsh’s speech at the Jackson Hole Symposium on Friday.

Societe Generale strategists observe that the Brazilian Real (BRL) largely ignored softer inflation data, which still supports a Banco Central do Brasil (BCB) rate cut in September followed by a pause into elections.

The GBP/JPY cross recovers a few pips from the vicinity of the weekly trough, though it lacks follow-through buying and trades around mid-216.00s during the early European session on Thursday.

Rabobank's Christian Lawrence and Molly Schwartz highlight that USD/MXN has broken below 17 for the first time since May 2024, prompting a forecast revision toward 16.5 in coming weeks.

The Swiss Franc (CHF) has failed to find support on the upbeat Swiss employment figures released on Thursday and keeps drifting lower against the US Dollar (USD) on Thursday.

Commerzbank’s Tatha Ghose revisits Turkish inflation dynamics, noting seasonally-adjusted price momentum above 2% m/m and warning that disinflation is unlikely.

BNY’s Geoff Yu notes that stronger Oil prices have improved Norway’s terms of trade, but EUR/NOK gains have pushed up the I-44 import price index.

The Canadian Dollar (CAD) trades lower against the US Dollar (USD) on Thursday, with USD/CAD trading marginally higher to near 1.3886. The Loonie faces selling pressure as the ongoing trade war between the United States (US) and Canada has raised Ottawa's economic concerns.

The NZD/USD pair slips back below mid-0.5900s during the early European session on Thursday, back closer the weekly low, touched the previous day.

DBS Group Research’s Philip Wee notes AUD/USD has risen 2.2% in August after a 1.5% gain in July, leaving the Australian Dollar near year-to-date highs and the best-performing G10 currency in 2026.

The Euro (EUR) remains practically flat against the US Dollar (USD) on Thursday, with the weekly chart showing a mild bearish correction, as the rally from late July lows had reached overbought levels.

Danske Research Team notes that the United States (US) Personal Consumption Expenditures (PCE) Price Index inflation surprise triggered a hawkish market reaction, pushing US rates higher and weighing on EUR/USD. The pair dropped to 1.1650 as the US Dollar (USD) found support from stronger data.

The Euro (EUR) is trading higher for the third consecutive day against the British Pound (GBP) on Thursday, but the pair keeps ticking down from session highs at the European opening time, despite the bright German GfK Consumer Sentiment data released earlier on the day.