The EUR/JPY registers two consecutive days of gains, but on Tuesday, buyers failed to gain traction as they faced a confluence of key resistance levels near the 184.70 area. The cross-pair is poised to end the day unchanged, near its opening price of 184.69.

The Dollar trades near 159.50 against the Yen on Tuesday after a session high just short of 160.00, the strongest level the pair has reached since Tokyo and Washington intervened together at the end of July.

The GBP/JPY consolidates at familiar levels on Tuesday, virtually unchanged near 216.00, with the cross-pair seesawing within the 215.85-216.22 range, as neither buyers nor sellers are able to clear key resistance/support levels during the day.

The British Pound trades just short of 1.3550 against the Dollar on Tuesday, holding inside Monday's range after a peak short of 1.3600 carried it to its strongest level since early May. That leaves close to 300 pips of recovery from the base just short of 1.3300 built in the first week of August.

NZD/USD hovers around the 0.5870 zone at the time of writing on Tuesday, marginally lower on the day. The pair is treading water as a firm US Dollar (USD) and a cautious market mood keep the New Zealand Dollar (NZD) on the back foot.

The Mexican Peso loses some ground on Tuesday, depreciating by about 0.16% against the US Dollar as investors await the release of the Federal Reserve’s last meeting minutes, with a resolution of the US-Iran conflict remaining unlikely.

The USD/CHF recovers some ground after testing the 50-day Simple Moving Average (SMA) of 0.7866 along with the bottom trendline of the ‘bearish flag’, which so far contained price action amid the lack of conviction of buyers and sellers, regarding the trend’s direction.

USD/JPY holds modest gains near the 159.60s on Tuesday, edging higher on the day. The pair has clawed back ground after a recent sharp pullback and is grinding back toward the upper end of its recent range.

AUD/USD trades just below 0.7100 on Tuesday, a touch lower for the day and sliding from the two-month highs reached on Monday.

NZD/USD retreats on Tuesday and trades around 0.5880 at the time of writing, down 0.38% on the day. The New Zealand Dollar (NZD) remains under pressure as mounting geopolitical tensions between the United States (US) and Iran fuel risk aversion and support demand for the US Dollar (USD).

USD/JPY extends its sideways movement below the 160 psychological mark on Tuesday as the US Dollar (USD) struggles to gain traction.

Scotiabank strategists Shaun Osborne and Eric Theoret note the Euro (EUR) is resilient around 1.1576, with Germany’s ZEW survey showing improving expectations and a slow recovery backdrop. Short-term EUR/USD technicals are described as bullish, with strong intraday and daily momentum.

The Pound Sterling steadies on Tuesday as geopolitical tensions rise in the Middle East, while housing data misses estimates and US Industrial Production decelerates. The GBP/USD trades at 1.35846.

AUD/USD edges higher on Tuesday and trades around 0.7115 at the time of writing, up 0.12% on the day.

Scotiabank strategists Shaun Osborne and Eric Theoret report USD/CAD trading near equilibrium around 1.3870, with Canadian Dollar (CAD) fundamentals supported by narrower front-end spreads and firm crude prices. They see investors relatively unconcerned by looming US tariff deadlines.

EUR/USD consolidates losses on Tuesday after pulling back from a two-month high of 1.1614 reached the previous day.

BNY’s Geoff Yu highlights that foreign holdings of New Zealand government bonds rose to 58.9% in July 2026, while NZD/USD trades slightly above its 12‑month average.

Rabobank’s Mauricio Une and Renan Alves note softer United States (US) inflation and cooling labor data, giving the Federal Reserve (Fed) more time to assess policy.

Chris Turner at ING describes EUR/USD as contained after a rally stalled just above 1.16, with investors cautious due to high natural gas prices and upcoming FOMC minutes. He expects a 1.1520–1.1580 range near term, while higher energy supports ECB hike expectations.

USD/CAD trades little changed on Tuesday as rising long-term US Treasury yields lift the US Dollar (USD), while elevated Oil prices underpin the commodity-linked Canadian Dollar (CAD). At the time of writing, the pair trades around 1.3874, near levels last seen in early June.

The New Zealand Dollar (NZD) trades lower against the US Dollar (USD) on Tuesday, weighed by a moderate risk-averse sentiment as tensions in the Middle East grow.

The Japanese Yen (JPY) underperforms its major currency peers on Tuesday, with USD/JPY trading 0.16% higher at around 159.70 during the European trading session.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note USD/JPY’s slight increase in upward momentum after trading between 158.82 and 159.59 still falls short of signaling a sustained advance, keeping intraday price action likely confined to 159.00–159.80.

EUR/CAD depreciates after three days of gains, trading around 1.1570 during the European hours on Tuesday. The pair loses ground as the Euro (EUR) remains subdued following the release of German ZEW Survey data.

The British Pound (GBP) is down 0.1% to near 1.3530 against the US Dollar (USD) during the European trading session on Tuesday. The British currency comes under pressure after the release of the United Kingdom (UK) employment data for three months ending June.

USD/CAD extends its losses for the fourth successive day, trading around 1.3870 during the European hours on Tuesday. The currency pair depreciates as the commodity-linked Canadian Dollar (CAD) gains support from firming crude oil prices.

MUFG’s Halpenny notes that EUR/USD remains capped near its 200-day moving average at 1.1630 and is 2.5%-3.0% overvalued in the bank’s short-term model.

The Australian Dollar (AUD) trades almost flat at around 0.7100 against the US Dollar (USD) during the European trading session on Tuesday, but is close to its over two-month high of 0.7130 posted on Monday.

Commerzbank FX analyst Michael Pfister highlights that the Canadian Dollar’s recent weakness contrasts with a fragile recovery in Canada’s real economy.

The British Pound (GBP) edges higher against the Japanese Yen (JPY) on Tuesday and extends gains for the third consecutive day, despite the mixed UK employment figures seen earlier on the day.