EUR/JPY loses ground for the second successive day, trading around 184.30 during the Asian hours on Wednesday. The technical analysis of the daily chart indicates the currency cross is remaining slightly below the upper boundary of an emerging descending wedge pattern.

The EUR/USD pair trades vulnerably near the two-month low of 1.1596, posted on Tuesday, during the Asian trading session on Wednesday.

The NZD/USD pair declines to around 0.5820 during the Asian trading hours on Wednesday. The US Dollar (USD) strengthens against the New Zealand Dollar (NZD) on rising tensions in the Middle East and a higher-for-longer Federal Reserve (Fed) interest rate stance. 

GBP/USD extends its losses for the second successive day, trading around 1.3390 during the Asian hours on Wednesday. The pair depreciates as the US Dollar (USD) receives support from increased risk aversion stemming from the Middle East conflict.

European People’s Party lead trade negotiator Željana Zovko said that a deal between the United States (US) and the European Union (EU) was reached, Reuters reported on Wednesday. Zovko added that deal on US tariffs provides certainty for European firms

On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8397 compared to the previous day's fix of 6.8375 and 6.8072 Reuters estimate.

The AUD/USD pair loses momentum to near 0.7095 during the early Asian trading hours on Wednesday. Geopolitical uncertainties and elevated crude oil prices weigh on the Australian Dollar (AUD) against the US Dollar (USD).

The USD/CAD pair attracts some dip-buyers during the Asian session on Wednesday, stalling the previous day's late pullback from the 1.3775 region or the highest since mid-April. Spot prices currently trade just above mid-1.3700s and continue to draw support from a bullish US Dollar (USD).

EUR/USD moves little after posting modest losses in the previous day, hovering around 1.1600 during the Asian hours on Wednesday. The currency pair may experience further depreciation as the US Dollar (USD) gains ground due to increased risk aversion stemming from the Middle East conflict.

The USD/JPY pair trades on a flat note around 159.05 during the early Asian session on Wednesday. The potential upside for the pair might be limited amid intervention fears from Japanese authorities. Traders continue to digest the latest headlines on US talks with Iran to end the war.

Tuesday handed the Pound a labour market reading that was mixed enough to satisfy nobody.

The Aussie's Tuesday slide had little to do with anything domestic.

The NZD/USD pair falls toward the 0.5830 region on Wednesday as the United States (US) Dollar (USD) strengthens following upbeat labor-market data and renewed tensions linked to Iran.

EUR/USD drops near 1.1600 on Tuesday as the Greenback recovers some ground, supported by soaring US Treasury yields, even though ECB officials opened the door to rate hikes at the June meeting. The pair trades with losses of 0.48% at the time of writing.

The Yen's slow drift back toward 160.00 has the feel of a market that has stopped waiting.

The EUR/USD pair weakens toward the 1.1600 region on Tuesday as the United States (US) Dollar (USD) strengthens following solid labor-market data and rising Treasury yields, while mixed developments in the Eurozone limit support for the shared currency.

The British Pound retreats by 0.31% during the North American session as the Greenback rises, underpinned by soaring US Treasury yields as investors price in a spike in inflation from the energy shock. The GBP/USD trades at 1.3392 after reaching a daily high of 1.3437.

The Euro (EUR) weakens against the Canadian Dollar (CAD) on Tuesday as rising Oil prices linked to the US-Iran conflict continue to support the commodity-linked Loonie, even as the latest Canadian inflation data came in softer than expected.

TD Securities’ FX strategists Howard Du and Linda Cheng note that soft April Canada inflation and weak employment data should keep USD/CAD supported near 1.37 in Q2 2026.

NZD/USD trades around 0.5835 on Tuesday at the time of writing, down 0.65% on the day as the New Zealand Dollar (NZD) faces renewed selling pressure against the US Dollar (USD).

Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) keeps a defensive tone as USD/CAD grinds higher despite firm domestic yields and crude. Their fair value estimate has slipped back toward 1.35, highlighting renewed overvaluation in the pair.

Brown Brothers Harriman’s (BBH) Elias Haddad reports USD/JPY has moved above 159.00 on broad US Dollar (USD) strength but is expected to stay below 160.00 given intervention risks.

USD/JPY extends gains on Tuesday, rising for the seventh straight day as broad US Dollar (USD) strength and higher Oil prices linked to the US-Iran war continue to pressure the Japanese Yen (JPY).

USD/CAD moves higher on Tuesday and trades around 1.3760 at the time of writing, up 0.17% on the day, as the Canadian Dollar (CAD) struggles to fully benefit from higher Oil prices.

MUFG's Lee Hardman highlights a sharp GBP rebound, with GBP/USD back above 1.3400 as reports suggest Andy Burnham would keep existing United Kingdom (UK) fiscal rules.

The Australian Dollar (AUD) resumes its downtrend against the US Dollar (USD) on Tuesday, and is trading a few pips above one-month lows in the 0.7100 area at the time of writing.

BNY’s Bob Savage notes the Reserve Bank of Australia (RBA) sees elevated risks that inflation expectations drift higher, potentially requiring a deeper slowdown. Oil-driven price pressures and three rate hikes to 4.35% frame the backdrop for AUD/USD.

Brown Brothers Harriman’s (BBH) Elias Haddad notes GBP/USD has given back part of its gains as weaker United Kingdom (UK) labor market data dampens Bank of England (BoE) tightening prospects.

ING’s Francesco Pesole expects a sharp rise in Canada’s April Consumer Price Index (CPI), but sees limited pressure on the Bank of Canada (BoC) to hike.

USD/CHF trades higher around 0.7870 on Tuesday at the time of writing, gaining 0.35% on the day as the US Dollar (USD) benefits from renewed support linked to expectations of a more hawkish monetary policy stance in the United States (US).