The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Thursday at 7.0686 compared to the previous day's fix of 7.0753.

The AUD/USD pair drifts lower during the Asian session on Thursday and erodes a part of the previous day's strong gains to its highest level since September 17.

The NZD/USD pair holds steady above the 0.5800 mark, close to an over two-month high touched the previous day, during the Asian session. Moreover, the fundamental backdrop favors bullish traders and suggests that the path of least resistance for spot prices remains to the upside.

GBP/USD punched a fresh hole into seven-week highs on Wednesday, rising back into the 1.3400 neighborhood after the Federal Reserve (Fed) delivered a widely expected third straight interest rate cut.

The USD/JPY pair tumbles to near 156.00 during the early Asian session on Thursday. The US Dollar (USD) weakens against the Japanese Yen (JPY) after the Federal Reserve (Fed) lowered interest rates in a widely expected move. The US weekly Initial Jobless Claims are due later on Thursday.

The Canadian Dollar (CAD) found fresh 11-week highs against the US Dollar (USD) on Wednesday. The Bank of Canada (BoC) held interest rates steady, while the Federal Reserve (Fed) delivered its third straight interest rate cut, propping up the Loonie and sending the Greenback lower.

Brazil Interest Rate Decision in line with expectations (15%)

EUR/USD caught a volatile bullish swing on Wednesday after the Federal Reserve (Fed) delivered a third straight interest rate cut.

EUR/USD posts modest gains on Wednesday as the last monetary policy meeting by the Fed, looms with investors seem confident that the central bank will reduce rates. Consequently, the Greenback is pressured as seen by the pair which trades at 1.1658 up 0.27%.

Russia Consumer Price Index (MoM): 0.42% (November) vs previous 0.5%

Sterling advances during the North American session as the US Dollar weakens on expectation that the Federal Reserve will cut rates, later in the day. At the time of writing, the GBP/USD trades at 1.3336 after bouncing off daily lows of 1.3288.

The Canadian Dollar (CAD) trades under pressure against the US Dollar (USD) on Wednesday as markets digest the latest interest rate decision from the Bank of Canada (BoC).

Pound Sterling (GBP) is drifting from last week’s highs toward 1.33 support, with domestic risk limited until Friday’s data releases, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Euro (EUR) edges lower against the British Pound (GBP) on Wednesday, with EUR/GBP oscillating within its familiar one-week range as caution dominates broader FX markets ahead of the Federal Reserve’s (Fed) interest rate decision later in the day.

The Euro (EUR) is extending its latest consolidation and trading within a tight range in the mid/lower-1.16 area, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Canadian Dollar (CAD) is little changed. The Bank of Canada (BoC) policy decision is a statement only affair today at 9.45ET, with Gov. Macklem speaking 45 minutes later to finesse messaging, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Swiss Franc (CHF) trades slightly firmer against the US Dollar (USD) on Wednesday, with USD/CHF extending losses for a second consecutive day as the Greenback stays on the back foot ahead of the Federal Reserve’s (Fed) interest rate decision at 19:00 GMT.

The Australian Dollar is trading practically flat below a nearly two-month high, at 0.6654, hit on Tuesday.

Brazil IPCA Inflation registered at 0.18%, below expectations (0.2%) in November

The USD/JPY pair clings to three-day gains near 157.00 during the European trading session on Wednesday.

The Pound keeps drawing support from the broad-based Yen weakness this week and remains steady near multi-year highs, at the 208.90 area, with downside attempts contained above 208.20 so far

USD/CAD trades firmer above key support at 1.3800 as markets await the Fed’s decision, while the Bank of Canada is widely expected to hold rates at 2.25%, with swaps pricing a potential 25bps hike over the next year supporting the Canadian Dollar (CAD), BBH FX analysts report.

The Bank of Canada (BoC) is widely expected to maintain its benchmark interest rate at 2.25% at its meeting on Wednesday. That would follow two consecutive quarter-point rate cuts in September and October.

Further US Dollar (USD) strength is not ruled out; any advance may not reach 157.20. In the longer run, USD must close above 157.20 before a move to 157.90 can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The USD/CAD pair trades marginally higher around 1.3850 during the European trading session on Wednesday. The Loonie pair consolidates as investors await the monetary policy by the Bank of Canada (BoC) and the Federal Reserve (Fed), which will be announced later in the day.

The Yen remains the worst-performing currency of the G8 majors this week. EUR/JPY downside attempts have been contained above a previous high, at the 182.00 area earlier on Wednesday, and the pair reversed previous losses to retest its highest levels in more than 30 years at 182.60. 

The Pound Sterling (GBP) trades higher against its major currency peers on Wednesday as Bank of England (BoE) rate-setting members have favoured the gradual removal of monetary policy restrictiveness over aggressive easing.

USD/CAD’s rejection from the multi-month trendline near 1.4150 has triggered a decisive reversal, with the pair slipping below its ascending channel and the 200-DMA to hint at further downside momentum, Société Générale's FX analysts note.

New Zealand Dollar (NZD) is likely to consolidate between 0.5760 and 0.5790. In the longer run, the probability of further NZD gains above 0.5800 is diminishing, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Australian Dollar (AUD) could test 0.6660 before a pullback is likely; the major resistance at 0.6685 is likely out of reach. In the longer run, further AUD strength is not ruled out; it remains to be seen if 0.6685 is within reach, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.