The Pound (GBP) trades practically flat around 212.50 against the Japanese Yen (JPY) on Thursday.

The USD/CHF pair is down around 0.15% to near 0.7775 during the European trading session on Thursday. The Swiss Franc pair faces selling pressure as the US Dollar (USD) declines due to growing hopes that the United States (US) and Iran would reach a peace deal soon.

Silver (XAG/USD) appreciates for the second consecutive day on Thursday, with precious metals buoyed amid lower Treasury yields, as the decline in Oil prices has eased bets on US Federal Reserve (Fed) rate hikes.

The NZD/USD pair seesaws between tepid gains/minor losses and holds above mid-0.5900s through the early European session on Thursday.

BNY’s Geoff Yu argues that changing gilt ownership patterns limit downside for the Pound (GBP) even as United Kingdom (UK) fiscal risks rise. Foreign investors have already reduced exposure, leaving domestic buyers dominant.

The USD/CAD pair trades with mild gains around 1.3635 during the early European trading hours on Thursday. Hopes for a US-Iran peace deal to end the war drag crude oil prices lower, weighing on the commodity-linked Canadian Dollar (CAD) against the US Dollar (USD). 

OCBC strategists Sim Moh Siong and Christopher Wong highlight that recent USD/JPY moves likely reflect Japanese intervention, with 158 replacing 160 as the key line.

The Euro (EUR) has found some support in the 0.8620 area against the British Pound (GBP), but upside attempts remain capped below a previous support area at 0.8650.

The Pound Sterling (GBP) trades calmly against its major currency peers, flattening around 1.3600 against the US Dollar (USD), during the European trading session on Thursday.

Danske Research Team expects the the central bank of Sweden, Riksbank to keep its policy rate unchanged at 1.75% but adopt a more hawkish tone, acknowledging upside inflation risks.

The USD/JPY pair trades on a flat note near 156.40 during the early European session on Thursday. The Japanese Yen (JPY) remains in focus after rallying on Wednesday amid suspected speculation that officials are intervening in the market. 

Commerzbank’s Volkmar Baur notes that the New Zealand Dollar (NZD) has underperformed the G10 since the war began, reflecting a dovish Reserve Bank of New Zealand (RBNZ) relative to the Reserve Bank of Australia (RBA).

The EUR/USD pair trades in a tight range around 1.1750 during the early European trading session on Thursday.

The Indian Rupee (INR) opens on a weak note against the US Dollar (USD) on Thursday, failing to capitalize on Wednesday’s strong upside move.

The AUD/USD pair attracts some dip-buyers during the Asian session on Thursday and stalls the previous day's late pullback from the 0.7275-0.7280 region, or its highest level since June 2022. Spot prices currently trade around mid-0.7200s, up for the third straight day.

The AUD/JPY cross gathers strength near 113.30 during the early European session on Thursday. The Australian Dollar (AUD) edges higher against the Japanese Yen (JPY) on improved risk sentiment following reports that the United States (US) and Iran are close to a deal to end the war.

GBP/USD remains stronger for the third consecutive day, trading around 1.3600 during the Asian hours on Thursday. The technical analysis of the daily chart indicates an improving bullish trend as the pair rebounds from the lower boundary of the ascending channel.

The EUR/JPY pair trades in a tight range around 183.75 during the Asian trading session on Thursday. The pair struggles for a direction as investors remain on the sidelines amid hopes that Japan’s Ministry of Finance (MoF) could intervene again.

Silver price (XAG/USD) rises for the second successive day, trading around $77.90 per troy ounce during the Asian hours on Thursday.

The NZD/USD pair trades in positive territory around 0.5960 during the Asian trading hours on Thursday. The New Zealand Dollar (NZD) strengthens against the US Dollar (USD) following reports that the United States (US) and Iran are close to a deal to end the war.

USD/CAD remains flat after registering modest gains in the previous trading day, hovering around 1.3630 during the Asian hours on Thursday. The commodity-linked Canadian Dollar (CAD) may struggle amid lower oil prices, given Canada’s status as the largest crude exporter to the United States (US).

The EUR/USD pair attracts some dip-buying during the Asian session on Thursday and stalls the previous day's late pullback from the 1.1800 neighborhood, or over a two-week high.

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Thursday at 6.8487 compared to the previous day's fix of 6.8562 and 6.8087 Reuters estimate.

The USD/JPY pair struggles to capitalize on the previous day's goodish rebound from its lowest level since February 24, around the 155.00 psychological mark, and oscillates in a narrow band during the Asian session on Thursday.

GBP/USD gained around 0.4% on Wednesday, settling close to 1.3595 after testing 1.3645 and failing to clear the 1.3600 handle on the close.

AUD/USD gained roughly 0.8% on Wednesday, settling close to 0.7240 after testing 0.7280 intraday and failing to hold above the 0.7250 handle.

GBP/JPY retreats over 0.55% on Wednesday as the Japanese Yen strengthened in the aftermath of last week’s intervention in the FX markets by Japanese authorities. At the time of writing, the cross-pair trades at 212.60 after reaching a daily peak of 214.23.

USD/JPY stages a modest rebound on Wednesday after coming under pressure earlier in the day amid another suspected intervention by Japanese authorities. At the time of writing, the pair is trading around 156.42 after recovering from an intraday low near 155.00.

GBP/USD rises by over 0.59% on Wednesday after an Axios report revealed that the US and Iran are closing in on a deal to end the war. The Greenback fell on the news, even though US jobs data crushed estimates, which could prompt the Federal Reserve to focus on inflation.

EUR/USD trades higher on Wednesday as renewed optimism surrounding a potential US-Iran peace deal pressures the US Dollar (USD) and lifts the Euro (EUR).