Silver price (XAG/USD) loses over 1% after registering modest gains in the previous day, trading around $64.50 per troy ounce during the Asian hours on Tuesday. The non-yielding Silver struggles amid a hawkish policy outlook at the Federal Reserve (Fed).

The GBP/USD pair loses ground to near 1.3245 during the early Asian trading hours on Tuesday. Political uncertainty in the United Kingdom (UK) continues to weigh on the British Pound (GBP) against the US Dollar (USD).

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Tuesday at 6.8171 compared to the previous day's fix of 6.8150 and 6.7762 Reuters estimate.

EUR/USD steadies after registering modest losses in the previous day, trading around 1.1430 during the Asian hours on Tuesday.

The USD/JPY pair holds steady near 161.55 during the early Asian session on Tuesday. Progress in US–Iran peace talks and intervention fears from the Japanese authorities might cap the upside for the pair.

The Australian Dollar retreated by 0.15% on Monday as the US Dollar held onto gains of 0.24% in the US Dollar Index (DXY), following the round of talks between the US and Iran in Switzerland. At the time of writing, the AUD/USD tumbles below 0.7000, poised to re-test lower prices.

The shared currency registered losses of 0.37% against the US Dollar on Monday late in the North American session amid positive news on the US-Iran talks, while comments from ECB President Lagarde surprised investors, who played down second-round inflation woes.

The British Pound enters the new week on the back foot, having come within a whisker of fresh seven-month lows before steadying into a tentative bounce that has done little to change the bigger picture.

The New Zealand Dollar closed lower for a fourth consecutive session on Monday, drifting toward the 0.5700 handle as a firmer US Dollar and souring risk sentiment did the damage.

The NZD/USD pair traded lower on Monday, hovering near a two-month low at the 0.5720 area, as the New Zealand Dollar (NZD) came under pressure from a firmer US Dollar (USD) and cautious market sentiment.

The Swiss Franc loses ground against the US Dollar and the euro on Monday as risk appetite improves amid the start of US-Iran talks, which were deemed positive by US Vice President JD Vance.

The Mexican Peso posted losses of 0.34% on Monday as the Greenback recovered some ground, driven by the Federal Reserve's hawkish tilt, which pushed the US Dollar higher. At the time of writing, the USD/MXN trades at 17.35 after bouncing off daily lows of 17.29.

AUD/JPY extends its sideways price action on Monday near levels last seen in September 1990, as persistent weakness in the Japanese Yen (JPY) keeps the cross supported while fears of another intervention by Japanese authorities limit further gains.

A hot inflation print and a rebound in Crude Oil ought to be a recipe for a stronger commodity currency, which makes the Canadian Dollar's slide to fresh 14-month lows all the more telling.

There is something faintly absurd about a currency pair holding this high while one half of it represents a country that has just lost its prime minister. GBP/JPY settled Monday close to 214.00, sitting on its rising 50-day average after a pullback from this month's peak near 216.50.

NZD/USD trades in negative territory around 0.5730 on Monday, extending its retreat for the fourth consecutive day. The pair hit its lowest level since April 8, against a backdrop of broad US Dollar (USD) strength and persistent uncertainty surrounding the US-Iran peace process.

The AUD/USD pair fell near the 0.700 area on Monday, struggling to extend gains as investors remain cautious ahead of the upcoming US Personal Consumption Expenditures Price Index (PCE), the Federal Reserve’s (Fed) preferred inflation gauge.

EUR/USD trades under pressure on Monday, extending losses from the previous week as expectations of a hawkish Federal Reserve (Fed) underpin the US Dollar (USD), even as easing tensions in the Middle East curb safe-haven demand for the Greenback.

The Pound Sterling advances some 0.14% on Monday as the US-Iran negotiations laid a “good foundation” according to US Vice President JD Vance, after ending the first round of talks in Switzerland.

The USD/JPY pair sank as low as 161.07 on Monday, retreating from highs near 161.90 as traders remain alert to possible Japanese intervention after the pair moved close to a four-decade high.

Nomura’s Dominic Bunning highlights that British Pound (GBP) has reacted calmly to Keir Starmer’s resignation, with investors focusing on the prospect of Andy Burnham becoming Prime Minister and his choice of Chancellor.

Deutsche Bank’s Shreyas Gopal notes that markets had largely anticipated Andy Burnham becoming UK Prime Minister by the Autumn Budget, leaving the risk premium in Sterling broadly unchanged.

Royal Bank of Canada (RBC) economist Abbey Xu notes that Canadian inflation rose to 3.2% year-over-year in May, mainly due to higher energy prices, airfares and food costs.

USD/CAD trades little changed on Monday after a brief bout of weakness following stronger-than-expected Canadian inflation data. At the time of writing, the pair is trading around 1.4165, hovering near its highest level since April 2025.

Societe Generale’s Kit Juckes notes that UK political change is generating only modest Sterling (GBP) weakness, with EUR/GBP seen one to two percentage points higher and GBP/USD likely to test 1.30 this summer.

Rabobank’s Senior Macro Strategist Teeuwe Mevissen notes that divergence between the Federal Reserve (Fed) and European Central Bank (ECB) is becoming more important for EUR/USD.

Societe Generale strategists expect the central bank of Mexico, Banxico to hold rates at 6.50% on Thursday, with the statement potentially challenging market pricing for 80bp of tightening over 12 months.

The British Pound (GBP) is. showing the strongest performance among the major currencies on Monday, rallying 0.3% against the Japanese Yen, 0.14% against the Euro, and ticking up 0.05% against the Dollar after reversing previous losses.

ING’s Francesco Pesole sees a decent risk that EUR/USD will need to test 1.140 as lingering post-Fed Dollar momentum plays out before any renewed upward pattern.

The Canadian Dollar (CAD) trades lower against its major currency peers during the European trading session on Monday, ahead of the Consumer Price Index (CPI) data for May, which will be published at 12:30 GMT.