The Swiss Franc (CHF) is the worst-performing major currency this week as rising expectations of further interest rate hikes in the US and elsewhere make the lower-yielding Franc less attractive.
AUD/USD extends its decline on Friday, trading around 0.6775, down 0.43% on the day at the time of writing. The Australian Dollar (AUD) remains under pressure against the US Dollar (USD), as rising US Treasury yields reduce investors' appetite for risk-sensitive currencies.
The British Pound holds steady against the US Dollar on Friday, yet it’s poised to end the week with weekly losses of nearly 0.90%, trading at around 1.3230, up nearly 0.05% after the recent US producer inflation report reached its highest level since 2022.
USD/CAD pauses a three-day winning streak on Friday as a rebound in Oil prices helps the Canadian Dollar (CAD) outperform its major peers. The pair’s downside remains cushioned by a broadly stronger US Dollar (USD), supported by an increasingly hawkish Federal Reserve (Fed) outlook.
EUR/USD remains on the back foot on Friday as the latest US producer inflation data draws little market reaction. The pair hovers near its lowest level since May 2025 as bets on further Federal Reserve (Fed) tightening continue to support the US Dollar (USD).
EUR/GBP pares back some of its earlier gains on Friday as mixed Eurozone data temper the Euro’s (EUR) advance against the British Pound (GBP). The pair is still slightly higher on the day and remains stuck in a tight range near its April 2025 lows.
The Japanese Yen (JPY) remains under sustained pressure near multi-month lows as USD/JPY pushes above the 160.00 level for a second consecutive session, prompting official warnings from Japanese Finance Minister Katayama regarding one-sided and rapid foreign exchange moves.
The New Zealand Dollar (NZD) heads lower for the fourth consecutive day against the US Dollar (USD) on Friday, as speculation of a jumbo rate hike by the Federal Reserve (Fed) has increased the monetary divergence with the Reserve Bank of New Zealand (RBNZ).
USD/JPY treads water near 160.00 on Friday as the risk of Japanese intervention limits gains despite a stronger US Dollar (USD).
The British Pound (GBP) looks vulnerable against the US Dollar (USD) near its four-week low of 1.3222 during the European trade on Friday. The GBP/USD pair is under pressure due to continued outperformance by the US Dollar.
The Euro (EUR) extends losses on Friday as mixed Eurozone macroeconomic data failed to offset the broad US Dollar's (USD) strength, with US Treasury yields surging amid speculation of a large Federal Reserve (Fed) rate hike next month.
Commerzbank’s Thu Lan Nguyen revises the EUR/USD outlook as US political risk recedes and Euro area risk rises. With Trump constrained by a divided Senate, the Dollar faces fewer politically driven easing threats, while French elections and Euro area debt concerns weigh on the Euro.
Societe Generale’s Kenneth Broux and colleagues note USD/JPY has broken out of a recent consolidation, reclaiming its 200‑day moving average and trading above 160 for a second day. The pair faces key resistance around 160.40/160.70 and 162.20, with support near 158.70.
According to revised estimates, the Eurozone Gross Domestic Product (GDP) expanded at a faster pace of 0.6% in the third quarter this year. The preliminary data showed that the economy grew at a moderate pace of 0.4%.
The Australian Dollar (AUD) extends its losing spree against the US Dollar (USD) on Friday, trading 0.15% lower at around 0.6795 in the European trade.
The US Dollar (USD) maintains its bullish tone against the Swiss Franc (CHF) on Friday, buoyed by higher US Treasury yields, as Federal Reserve (Fed) officials open the door for a 50-basis-point rate hike in December.
The Euro (EUR) finds a temporary support near 1.1047 against the US Dollar (USD) during the European trading session on Friday.
Societe Generale’s Kenneth Broux notes that robust UK GDP and services growth are keeping pressure on the Bank of England (BoE) to hike again, with OIS implying three more moves. Despite this, GBP/USD has reversed sharply.
The USD/CAD pair is seen consolidating its strong gains registered over the past week or so, trading near a one-month top, around mid-1.4200s during the first half of the European session on Friday.
Derek Halpenny, Head of Research at MUFG, argues the Australian Dollar’s (AUD) earlier support from pre-emptive Reserve Bank of Australia (RBA) tightening is fading as markets see limited scope for further hikes while repricing additional Fed moves.
Chris Turner at ING argues that while European Central Bank (ECB) rhetoric points to a December rate hike, markets see US tightening as more credible than in the Eurozone. Wider short-dated EUR/USD swap differentials are weighing on the pair.
Commerzbank’s Volkmar Baur notes that revised expectations for further Federal Reserve (Fed) hikes and parallel Bank of Japan (BoJ) moves limit near-term upside for the Japanese Yen. Policy risk is seen shifting towards Japan due to upcoming BoJ board appointments.
The Euro (EUR) posts minor gains against the British Pound (GBP) on Friday with risk appetite fading as hopes of a Middle East peace deal wane and oil prices pick up from two-month lows.
The GBP/JPY cross seesaws between tepid gains and minor losses on Friday, trading around mid-211.00s during the early European session, just above a one-and-a-half-week low, which it touched the previous day.
NZD/USD continues its losing streak for the fourth consecutive day, trading around 0.5540 during Asian hours on Friday. The pair holds losses as the US Dollar (USD) remains steady on persistent inflation concerns and expectations of tighter monetary policy.
The Japanese Yen (JPY) hesitates a few pips away from the key 160.00 level against the US Dollar (USD) on Friday, weighed by a strong rebound in US Treasury yields, which has prompted Japanese Prime Minister Sanae Takaichi to launch an intervention warning earlier in the day.The USD/JPY pair accele
Here is what you need to know on Friday, November 13:
The AUD/USD pair extends the decline to near 0.6785 during the early European trading hours on Friday. Growing bets of a half-point Federal Reserve (Fed) rate hike provide some support to the US Dollar (USD) against the Australian Dollar (AUD).
USD/CHF continues its winning streak for the fourth consecutive day, trading around 0.8360 during Asian hours on Friday. The pair rises amid rising expectations of another Fed rate hike, which would further widen the interest rate differential between the United States (US) and Switzerland.
USD/CAD remains stronger for the fourth successive day, trading around 1.4260 during Asian hours on Friday. The technical analysis of a daily chart shows the pair is remaining within the rising wedge pattern that signals a bearish price breakdown and a potential shift to the downside.