The EUR/GBP cross touched a one-month high, around the 0.8465-0.8470 region during the Asian session on Wednesday, though it lacks follow-through buying. The fundamental backdrop, however, suggests that the path of least resistance for spot prices is to the upside.
The AUD/JPY pair holds onto four-day rally to near 94.50 during Asian trading hours on Wednesday. The cross exhibits strength as investors start doubting over whether the Bank of Japan (BoJ) will raise interest rates again this year.
The EUR/JPY cross posts modest gains near 165.50 during the early European session on Tuesday. The Japanese Yen (JPY) softens against the Euro (EUR) amid the improved risk sentiment as positive developments from US-China trade talks undermine the JPY's safe-haven status.
EUR/USD loses ground after registering gains in the previous two consecutive sessions, trading around 1.1400 during the Asian hours on Wednesday. The pair depreciates as the US Dollar receives support from easing tariff tensions between the United States (US) and China.
The USD/CHF pair extends its consolidative price move through the Asian session on Wednesday and remains confined in a range held over the past two weeks or so amid mixed cues.
The Bank of Japan (BoJ) will not raise another interest rate again this year due to uncertainty over US tariff policy, according to a slight majority of economists in a Reuters poll who expect the next 25 basis points (bps) increase in early 2026.
Gold price (XAU/USD) climbs to the top end of the weekly range during the first half of the European session on Wednesday amid a combination of supporting factors.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its gains for the second successive day and trading higher at around 99.10 during the Asian hours on Wednesday.
The GBP/USD pair extends the decline to around 1.3475 during the Asian trading hours on Wednesday. The Pound Sterling (GBP) weakens against the US Dollar (USD) due to a weaker UK employment report.
Inflation in the United States (US), as measured by the change in the Consumer Price Index (CPI), rose to 2.4% on a yearly basis in May from 2.3% in April, the US Bureau of Labor Statistics (BLS) reported on Wednesday. This reading came in below the market expectation of 2.5%.
Silver price (XAG/USD) holds ground after registering over a 0.50% loss in the previous session, trading around $36.60 per troy ounce during the Asian hours on Wednesday. The price of the grey metal maintains a position near a 13-year high of $36.89, which was reached on Monday.
The Japanese Yen (JPY) extends its intraday consolidative price move through the early European session on Wednesday and is currently placed near a two-week low touched against its American counterpart the previous day.
The Australian Dollar (AUD) declines against the US Dollar (USD) on Wednesday, retracing its recent gains. However, the AUD/USD pair may gain ground amid easing trade tensions between the United States (US) and China.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $63.80 during the Asian trading hours on Wednesday. The WTI price edges higher as traders digest the result of trade talks between the United States and China.
OPEC Secretary General Haitham Al Ghais said on Tuesday that oil demand growth will remain robust over the next two and a half decades as the world population grows, per Reuters.
On Wednesday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1815 as compared to the previous day's fix of 7.1840 and 7.1801 Reuters estimate.
The USD/CAD pair holds steady near 1.3670 during the early Asian session on Wednesday. Easing trade tension between the United States (US) and China could underpin the US Dollar (USD). Investors will closely monitor the result of the US-China trade talks.
US Commerce Secretary Howard Lutnick said late Tuesday that the United States and China have reached a framework to implement the Geneva Consensus, but they will go back and see if US President Donald Trump approves it.
China’s Vice Commerce Minister Li Chenggang said early Wednesday that communication with the United States (US) has been rational and candid, adding that the two sides agreed on a consensus on the Geneva meeting.
The NZD/USD pair trades in positive territory near 0.6055 during the early Asian session on Wednesday. Hopes that trade talks between the United States (US) and China were going well provide some support to the China-proxy New Zealand Dollar (NZD).
GBP/USD took a step lower on Tuesday, falling under the weight of a wide miss in UK wages and unemployment figures. US Consumer Price Index (CPI) inflation data is in the barrel for Wednesday, and Cable traders are set to grapple with mid-tier UK trade data later in the week.
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