The Indian Rupee (INR) opens on a cautious note against the US Dollar (USD) on Tuesday. The USD/INR pair rises further to near 95.40 as surging oil prices due to escalating fears of a prolonged global supply disruption have weakened the Indian currency.

The AUD/USD pair slides below mid-0.7000s after the Reserve Bank of Australia (RBA) announced its policy decision, though it lacks follow-through.

The Australian Dollar (AUD) faces selling pressure against its major currency peers, trading 0.15% lower at around 112.20 against the Japanese Yen (JPY) during the Asian trading session on Tuesday.

EUR/JPY depreciates after registering modest gains in the previous day, trading around 183.80 during the Asian hours on Tuesday. The Relative Strength Index (14) at 47.63 sits just below the neutral 50 line, hinting at ongoing bearish momentum without yet reaching oversold conditions.

The British Pound (GBP) holds onto two-day gains marginally at around 1.3500 against the US Dollar (USD) during the Asian trading session on Tuesday.

The USD/CAD pair is seen consolidating its recent losses to a two-month low, touched last week, and trading below mid-1.3900s during the Asian session on Tuesday.

The NZD/USD pair seesaws between tepid gains/minor losses during the Asian session on Tuesday and currently trades just below the 0.5900 mark.

The EUR/USD pair struggles to gain any meaningful traction and holds steady around the 1.1545-1.1550 area during the Asian session on Tuesday.

AUD/USD regains ground after registering modest losses the previous day, trading around 0.7060 during Asian hours on Tuesday. The pair gains as the Australian Dollar (AUD) remains stronger ahead of the Reserve Bank of Australia's (RBA) interest rate decision later in the day.

Silver price (XAG/USD) depreciates after two days of gains, trading around $66.00 per troy ounce during the Asian hours on Tuesday. The price of non-yielding Silver has taken a hit recently as rising oil prices spark renewed inflation fears and heighten expectations for interest rate hikes.

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Tuesday at 6.7900 compared to the previous day's fix of 6.7884 and 6.7497 Reuters estimate.

The Yen has surrendered close to a full percent through the session, with the pair up 0.93% and changing hands just above 159.00 after a 120-pip range running from the 158.00 handle to short of 159.50.

The Australian Dollar has traded a band of barely 20 pips through the session, holding above 0.7050 and easing 0.15% inside it. That is the tightest daily range the pair has produced in weeks, and it arrives at the end of a run of close to 200 pips from the late-June trough just above 0.6850.

Cable has spent the session inside a band of barely 45 pips straddling 1.3500, up 0.13% and holding its best ground since mid-July.

The Euro is poised to end Monday’s session with losses of about 0.13% against the Greenback, as recent news points to a delay in talks between the US and Iran, while, from a technical perspective, EUR/USD stalled at the 100-day Simple Moving Average (SMA) near 1.1568.

Citi Mexico released the Expectations Survey, in which the central bank polled 35 economists to gather their forecasts for monetary policy, the USD/MXN exchange Rate, inflation expectations, and economic growth.

The New Zealand Dollar (NZD) trades near 0.5900 against the US Dollar (USD) on Monday, giving back a little ground after a run toward multi-day highs last week.

The Mexican Peso loses some ground against the US Dollar on Monday as traders book profits after a worse-than-expected US jobs report last week and as eyes turn to the release of US inflation figures on Wednesday. The USD/MXN trades at 17.14, modestly up 0.05%.

USD/JPY advances 0.73% on Monday and trades around 158.95 at the time of writing.

The Canadian Dollar trades at its strongest against the US Dollar since the second week of June, with the rate holding just above 1.3900 into the afternoon.

The Pound Sterling advances during the North American session, up 0.20% as markets digest developments in the Middle East and await crucial inflation data in the United States (US). The GBP/USD trades at 1.3520 after bouncing off daily lows of 1.3483.

USD/CAD trades on the back foot on Monday even as the US Dollar (USD) regains some ground after weakening last week following softer-than-expected US Nonfarm Payrolls (NFP) data. Attention now turns to Wednesday’s US Consumer Price Index (CPI) report.

The Australian Dollar (AUD) trades near the 0.7060 level against the US Dollar (USD) on Monday, giving back a little ground after six straight weeks of gains.

EUR/USD treads water on Monday as the US Dollar (USD) steadies following its post-NFP weakness, while Oil prices rise amid uncertainty over the reopening of the Strait of Hormuz. At the time of writing, the pair trades around 1.1553, virtually unchanged on the day.

AUD/JPY rises 0.70% on Monday and trades around 112.25 at the time of writing. The pair benefits from broad weakness in the Japanese Yen (JPY), while the Australian Dollar (AUD) holds firm ahead of the Reserve Bank of Australia (RBA) monetary policy decision on Tuesday.

ING’s Francesco Pesole highlights that softer United States (US) data and a more dovish Fed outlook should, in theory, benefit the Japanese Yen (JPY) given its high rate sensitivity.

ING’s Francesco Pesole notes that with key Eurozone data behind and European Central Bank (ECB) communication subdued, EUR/USD is now driven mainly by the United States (US) side.

GBP/JPY edges higher on Monday as the Japanese Yen (JPY) underperforms across the G10 currency space, with structural headwinds limiting the impact of recent intervention. At the time of writing, the cross trades around 214.70, up 0.85% on the day.

Societe Generale’s Kenneth Broux notes AUD/USD has defended its 200-DMA and established a pattern of higher highs and higher lows, signalling a short-term uptrend.

Brown Brothers Harriman’s (BBH) Elias Haddad notes that JPY is underperforming as firmer Oil prices support USD/JPY, while the Bank of Japan's (BoJ) latest meeting minutes did little to shift rate expectations.