EUR/JPY edges lower after three days of gains, trading around 186.80 during the Asian hours on Wednesday. The currency cross declines as the Euro (EUR) struggles amid heightened risk aversion driven by uncertainty over a potential ceasefire in the Middle East.
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 98.65 during the Asian trading hours on Wednesday.
The USD/CAD pair seesaws between tepid gains/minor losses, below the 1.3700 mark, during the Asian session on Wednesday amid a combination of diverging forces. The lack of progress in US-Iran peace talks continues to benefit the US Dollar's (USD) reserve currency status and supports spot prices.
Reserve Bank of New Zealand (RBNZ) Governor Anna Breman said on Wednesday that “the first quarter measures of core inflation have remained stable within the target band of 1–3%.”
The AUD/JPY cross declines to around 114.50 during the early Asian trading hours on Wednesday. The Australian Dollar (AUD) softens against the Japanese Yen (JPY) following the release of the Australian inflation report.
The AUD/USD pair continues with its struggle to conquer the 0.7200 mark and drifts lower following the release of Australian consumer inflation figures during the Asian session on Wednesday.
Australia’s Consumer Price Index (CPI) climbed by 4.6% year-over-year (YoY) in March, compared to a 3.7% increase reported in the previous reading, the latest data published by the Australian Bureau of Statistics (ABS) showed on Wednesday.
The USD/JPY pair struggles to capitalize on the previous day's goodish rebound from sub-159.00 levels, or a one-week low, and oscillates in a narrow band during the Asian session on Wednesday.
The EUR/USD pair trades in negative territory around 1.1715 during the early Asian session on Wednesday. Uncertainty over a potential Middle East ceasefire continues to boost a safe-haven currency such as the US Dollar (USD) against the Euro (EUR).
USD/JPY traded in a tight 80-pip range on Tuesday, closing near 159.62 after the session touched a low of 158.96 in early Asia and a high of 159.79 late in the New York session.
AUD/USD posted a near-flat close on Tuesday, settling around 0.7180 after a session that traded within a roughly 70-pip range between 0.7130 and 0.7200.