OCBC strategists Sim Moh Siong and Christopher Wong note that USD/JPY is again approaching 160 as the US Dollar (USD) benefits from safe-haven flows and Japanese authorities reiterate intervention readiness.

The USD/JPY pair enters a bullish consolidation phase on Friday and oscillates in a range below the 160.00 psychological mark through the early European session amid mixed cues. Nevertheless, spot prices seem poised to register gains for the first time in three weeks.

The AUD/USD pair trades subduedly around 0.7120 during the European trading session on Friday. The Aussie pair ticks lower as the US Dollar (USD) trades broadly firm amid higher oil prices due to the prolonged closure of the Strait of Hormuz, a critical passage to almost 20% of global energy supply.

USD/CAD continues its winning streak for the fourth successive day, trading around 1.3710 during the early European hours on Friday. However, the technical analysis of the daily chart indicates the pair is remaining within the descending channel pattern, signaling a persistent bearish bias.

The Euro (EUR) remains practically flat against the British Pound (GBP) on Friday, trading at 0.8675 at the time of writing, with resistance at the 0.8680 area capping Thursday’s rebound from 0.8654 lows.

The GBP/JPY pair finds buyers’ interest above 215.00 during the European trade on Friday after the release of the United Kingdom (UK) Retail Sales data for March.

GBP/USD steadies after three days of losses, trading around 1.3470 during the Asian hours on Friday. The pair stays calm following the release of United Kingdom (UK) Retail Sales data, which rebounded 0.7% month-over-month (MoM) in March after declining by a revised 0.6% in February.

The Indian Rupee (INR) opens positively against the US Dollar (USD) on Friday, extending its losing streak for the fifth trading day.

The EUR/USD pair remains on the back foot through the Asian session on Friday and currently trades around the 1.1680-1.1675 region, just above a nearly two-week low touched the previous day.

The NZD/USD pair is seen extending this week's retracement slide from the 0.5925-0.5930 horizontal barrier and drifting lower for the second straight day on Friday.

USD/CHF extends its winning streak for the fourth successive day, trading around 0.7870 during the Asian hours on Friday. The pair gains ground as the US Dollar (USD) receives support from safe-haven demand amid persistent uncertainty surrounding the United States (US)–Iran conflict.

EUR/JPY inches higher after three days of gains, trading around 186.60 during Asian hours on Friday. The technical analysis of the daily chart indicates the currency cross is positioned slightly below the ascending channel, signaling potential for a bearish reversal.

USD/CAD remains flat following a three-day winning streak, trading around 1.3700 during the Asian hours on Friday. The pair steadies as the US Dollar (USD) maintains its position as safe-haven demand increases amid persistent uncertainty surrounding the United States (US)–Iran conflict.

The USD/JPY pair sticks to its positive bias for the fifth straight day and trades around the 159.80 area, or a nearly two-week top during the Asian session on Friday.

The GBP/USD pair enters a bearish consolidation phase and trades around the 1.3465 region during the Asian session on Friday, just above a nearly two-week low set the previous day.

On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8674 compared to the previous day's fix of 6.8650 and 6.8400 Reuters estimate.

The AUD/USD pair loses traction to near 0.7130 during the early Asian session on Friday. Renewed conflict in the Middle East provides some support for a safe-haven currency, such as the US Dollar (USD), against the Australian Dollar (AUD). 

The NZD/USD pair trades with a negative bias near the 0.5860 area on Friday, April 24, as the US Dollar (USD) remains supported despite a slight loss of momentum in the broader index.

GBP/JPY advance stalls around 215.70, then retreats to 215.00 as risk appetite deteriorates amid Middle East headlines, leaving traders uncertain about the conflict's outcome. The cross trades at 215.06 at the time of writing.

Standard Chartered’s Dan Pan expects Banco Central do Brasil (BCB) to continue its cautious easing cycle, projecting a 25bps cut at the 29 April meeting as inflation risks remain elevated.

USD/CHF trades flat on Thursday, with choppy price action and two-way swings as traders refrain from aggressive directional bets amid cautious market sentiment driven by ongoing US-Iran tensions. At the time of writing, the pair is trading around 0.7845.

USD/JPY trades around 159.45 on Thursday, virtually unchanged on the day but still close to recent highs after a series of three bullish days.

GBP/USD steadies at around 1.3500 as tensions in the Middle East rise with the US and Iran escalating the conflict as both began to seize ships or oil vessels near the Strait of Hormuz. Meanwhile, a Pakistani official revealed that negotiations between Washington and Tehran had frozen.

The AUD/USD pair trades neutrally near the 0.7160 price zone on Thursday, as the US Dollar (USD) gathered some strength following a fresh batch of solid United States (US) economic data.

EUR/USD rebounds on Thursday after trading under pressure earlier in the day, as the US Dollar (USD) loses momentum, allowing the Euro (EUR) to recover from intraday lows despite upbeat US Purchasing Managers Index (PMI) data and cautious market sentiment amid US-Iran tensions.

Commerzbank’s Tatha Ghose says their worst-case scenario materialised after the Turkish central bank left policy unchanged, relying on FX intervention and ad hoc liquidity tightening instead of rate hikes.

Scotiabank strategists Shaun Osborne and Eric Theoret note the Pound (GBP) is marginally softer versus the US Dollar (USD) but outperforming most G10 currencies, supported by better‑than‑expected United Kingdom (UK) Purchasing Managers' Index (PMI) data.

NZD/USD edges lower on Thursday, trading around 0.5875 at the time of writing, down 0.47% on the day, as risk aversion dominates market sentiment.

Societe Generale analysts note the Brazilian Real's (BRL) performance and highlight that USD/BRL failed to clear its downward‑sloping 200‑day moving average during recent consolidation, confirming the broader bearish trend.

Rabobank Senior FX Strategist Jane Foley highlights that stronger-than-expected New Zealand Consumer Price Index (CPI) and a hawkish Reserve Bank of New Zealand (RBNZ) stance have driven aggressive market pricing for policy tightening and supported the New Zealand Dollar (NZD).