Forex News
- GBP/JPY holds uptrend as buyers defend 215.00 support zone.
- Break above 216.00 exposes YTD high at 216.60.
- Drop below 215.00 targets 214.68 and key SMA confluence.
The Pound Sterling advances versus the Japanese Yen on Tuesday, up by 0.24%, driven by traders’ optimism about a US-Iran deal, even though there are rumours that Iran has halted negotiations amid the Israel-Hezbollah conflict over the weekend. The GBP/JPY trades at 215.34 after bouncing off daily lows of 214.74.
GBP/JPY Price Forecast: Technical outlook
From a technical standpoint, the GBP/JPY uptrend remains intact, but as the USD/JPY pair closes into the 160.00 area, the possibility of an intervention by the Bank of Japan (BoJ) increases.
If not for the BoJ, the GBP/JPY could resume its advance and test the 216.00 figure, followed by the yearly peak at 216.60 hit on April 30. A breach of the latter, and there’s nothing in the way for buyers to drive the cross-pair towards the 220.00 mark.
On the flip side, the first support for GBP/JPY is at 215.00. Once hurdled, the next stop would be the May 25 daily high turned support at 214.68, ahead of the confluence of the 20- and 50-day Simple Moving Averages (SMAs), each at 213.76/68, respectively.
GBP/JPY Price Chart – Daily
Japanese Yen Price Today
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.04% | -0.05% | 0.19% | -0.01% | -0.28% | 0.10% | 0.15% | |
| EUR | -0.04% | -0.09% | 0.13% | -0.07% | -0.32% | 0.07% | 0.09% | |
| GBP | 0.05% | 0.09% | 0.22% | 0.02% | -0.19% | 0.18% | 0.15% | |
| JPY | -0.19% | -0.13% | -0.22% | -0.20% | -0.44% | -0.08% | -0.07% | |
| CAD | 0.01% | 0.07% | -0.02% | 0.20% | -0.25% | 0.12% | 0.12% | |
| AUD | 0.28% | 0.32% | 0.19% | 0.44% | 0.25% | 0.36% | 0.36% | |
| NZD | -0.10% | -0.07% | -0.18% | 0.08% | -0.12% | -0.36% | -0.01% | |
| CHF | -0.15% | -0.09% | -0.15% | 0.07% | -0.12% | -0.36% | 0.00% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
The final reading of Australia's S&P Global Services PMI came in at 48.7 in May, compared to 50.7 in the previous reading, the latest data published by S&P Global showed on Wednesday. This figure came in better than the estimates of 47.7. Meanwhile, the Composite PMI was revised to 48.7 in May versus 50.4 prior, above the consensus of 47.8.
The Australian Dollar (AUD) edges slightly higher following the final reading of Australia's Services PMI data for May. The AUD/USD pair holds positive ground near 0.7175, still marginally up from Monday’s closing price at 0.7157.
Australian Dollar Price Today
The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.06% | -0.04% | 0.19% | -0.01% | -0.24% | 0.15% | 0.19% | |
| EUR | -0.06% | -0.09% | 0.13% | -0.08% | -0.30% | 0.10% | 0.11% | |
| GBP | 0.04% | 0.09% | 0.22% | 0.02% | -0.17% | 0.21% | 0.18% | |
| JPY | -0.19% | -0.13% | -0.22% | -0.20% | -0.42% | -0.04% | -0.04% | |
| CAD | 0.00% | 0.08% | -0.02% | 0.20% | -0.23% | 0.16% | 0.15% | |
| AUD | 0.24% | 0.30% | 0.17% | 0.42% | 0.23% | 0.37% | 0.36% | |
| NZD | -0.15% | -0.10% | -0.21% | 0.04% | -0.16% | -0.37% | -0.02% | |
| CHF | -0.19% | -0.11% | -0.18% | 0.04% | -0.15% | -0.36% | 0.02% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).
Technical Analysis: AUD/USD keeps the bullish vibe
AUD/USD trades at 0.7175 in the daily chart, keeping a constructive bullish bias as spot holds well above the 100-day exponential moving average (EMA). The pair is consolidating near recent highs, and the Relative Strength Index (RSI) around 52 suggests mildly positive but not overstretched momentum, hinting that buyers retain control while leaving room for further upside attempts.
On the downside, immediate support is located at the 0.7175 area as an intraday pivot, with stronger technical demand emerging at the 100-day EMA near 0.7035, where the broader upswing would be expected to stabilize on deeper pullbacks. As long as AUD/USD defends these underlying supports, the near-term technical structure favors dips being bought rather than a sustained reversal lower.
(The technical analysis of this story was written with the help of an AI tool.)
Australian Dollar FAQs
One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD.
The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive.
China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs.
Iron Ore is Australia’s largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD.
The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.
UOB’s Ho Woei Chen notes that China’s May PMIs point to softer 2Q26 GDP growth, with manufacturing hovering at the expansion threshold and services rebounding only modestly. The economist expects China’s GDP to slow to 4.7% year-on-year in 2Q26 from 5.0% in 1Q26, keeping the full-year 2026 growth forecast at 4.7%. Policy is seen staying calibrated.
PMI signals softer but stable growth
"In sum, the latest PMIs indicate that China's manufacturing sector is holding at the expansion threshold but losing momentum, due to softer external demand and Middle East-related cost pressures."
"The services rebound offers some offset, but domestic demand remains the key vulnerability requiring policy attention."
"May PMI data reinforced the slowdown evident in Apr’s broader macro indicators."
"We expect China’s GDP growth to moderate to 4.7% y/y in 2Q26 from 5.0% y/y in 1Q26 with the full-year outlook at 4.7%."
"Unless further evidence suggests that growth could slow below the official target of 4.5%-5.0%, we think policy responses will remain calibrated and incremental."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
BNY's Bob Savage notes that most MENA (Middle East and North Africa) currencies saw net selling in May after a brief April respite, with fixed income also underperforming. Rising global inflation expectations and higher United States (US) rate expectations are weighing on frontier market FX, while capital inflows into Gulf economies and Egypt could slow further if Dollar cash yields rise. Only Jordanian Dinar (JOD) was modestly net bought.
Carry unwinds and weaker safe haven story
"If April was a month of relief for MENA assets, that story did not continue in May: the bulk of currencies in the region were net sold, and fixed income continued to underperform."
"May was also a difficult month for frontier markets, as it brought a marked rise in global inflation expectations driven by the conflict."
"Energy prices are not a solid buffer, and the region’s currencies have been caught up in sustained carry unwinding."
"Ultimately, only JOD ended the month net bought, and the levels were mediocre at best."
"Meanwhile, the new “regional safe haven” narrative for OMR was severely curtailed, especially as geopolitical developments began to drive flow interest in addition to geographical advantages."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
- US JOLTS Job Openings jumped to 7.618 million in April, the highest level since May 2024.
- Stronger US labor-market data supported the US Dollar and reduced expectations for Fed rate cuts.
- Markets remain mainly driven by US labor market figures.
The NZD/USD pair trades near the 0.5930 region on Wednesday as the United States (US) Dollar (USD) strengthens following upbeat labor-market data, while investors remain cautious ahead of upcoming economic releases from New Zealand. At the time of writing, the pair declines around 0.15%.
The latest Job Openings and Labor Turnover Survey (JOLTS) showed US job openings surged to 7.618 million in April from a revised 6.887 million in March, well above market expectations of 6.88 million. The reading marked the highest level since May 2024 and reinforced confidence in the resilience of the US labor market.
With no major New Zealand data released during the session, NZD/USD remains mainly driven by US labor-market figures, Treasury yields, and broader demand for the Greenback.
Short-term technical analysis:
On the four-hour chart, NZD/USD trades at 0.5923, maintaining a capped tone as it holds above the 100-period Simple Moving Average (SMA) at 0.5896 but remains below the 20-period SMA at 0.5950 and nearby horizontal barriers. Immediate pressure is reinforced by a fading Relative Strength Index (RSI) around 47, which hints that bullish momentum has cooled after the recent rejection from overbought territory.
On the topside, initial resistance is aligned at 0.5926, with a stronger barrier at 0.5937 and the 20-period SMA at 0.5950 forming a broader supply zone. On the downside, first support is seen at 0.5922, followed by 0.5918; a break there would expose the 100-period SMA support near 0.5896.
(The technical analysis of this story was written with the help of an AI tool.)
UOB’s Quek Ser Leang and Lee Sue Ann highlight that USD/CNH was little changed on Monday around 6.7652, but the underlying tone has softened. They expect the pair to drift lower intraday within 6.7595–6.7690 rather than stage a sharp decline. Over coming weeks, their negative view persists, with scope for a move toward 6.7500 unless 6.7800 strong resistance is breached.
Soft tone points to gradual CNH strength
"24-HOUR VIEW: Yesterday, USD traded between 6.7627 and 6.7708, closing largely unchanged at 6.7652 (+0.01%). Despite the relatively quiet price action, the underlying tone has softened. That said, this is likely to lead to USD drifting lower within a range of 6.7595/6.7690 rather than a sustained decline."
"1-3 WEEKS VIEW: Tracking our negative USD view from early last week, in our previous update from last Friday (29 May, spot at 6.7740), we highlighted that “downward momentum remains mild, but there is room for USD to decline further to 6.7620.” USD subsequently edged to a low of 6.7605. Downward momentum remains mild, but the decline has not stabilised. Overall, only a breach of 6.7800 (‘strong resistance’ previously at 6.7900) would indicate that the decline has stabilised. Until then, USD could continue to edge lower. The next level to watch is 6.7500."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
- EUR/USD trades at 1.1631, virtually unchanged after peaking at 1.1655.
- JOLTS vacancies jump, easing fears over US labor weakness.
- ECB officials signal timely action as inflation tops forecasts.
- NFP, ISM Services and Beige Book headline this week.
The Euro (EUR) consolidates within familiar levels on Tuesday, flatlining around 1.1630 as the US Dollar (USD) recovers some ground, underpinned by high Oil prices amid halted US-Iran talks, even though US President Donald Trump says this is fake news.
EUR/USD flatlines as Oil risks counter AI-fueled risk appetite
Risk appetite is positive, driven by the AI frenzy. However, uncertainty around the US and Iran negotiations, and the resumption of hostilities between Israel and Hezbollah, drive ebbs and flows towards the safety of the Greenback
The US Dollar Index (DXY), which measures the US Dollar against six currencies, is flat at 99.17. The US 10-year Treasury note yield is up one bps to 4.461%.
Data in the US showed that April’s Job Openings and Labor Turnover Survey (JOLTS) job vacancies rose to 7.618 million from 6.866 million, well above the 6.88 million forecast.
Cleveland Fed's Beth Hammack noted that the “job data indicates stability” and that the “unemployment rate is near full employment levels.” However, she expressed ongoing concerns about inflation, suggesting that the Fed might need to act “soon” if inflation persists.
In Europe, inflation across the bloc exceeded expectations, driven by high energy and services prices, but the Euro barely blinked. The European Union (EU) Harmonized Index of Consumer Prices (HICP) in May rose by 3.2% YoY, up from 3%, aligned with forecasts.
Some European Central Bank (ECB) policymakers crossed the wires. ECB’s Olli Rehn said that a June rate move would be an insurance hike, even though he stated that inflation expectations remain anchored. ECB Gediminas Simkus noted that inflation expectations are similar to four years ago, stressing the importance of reacting in a “timely manner.”
Traders are focusing on Friday's release of May’s Nonfarm Payrolls report, while Wednesday will see market interest in the Fed’s Beige Book and the ISM Services PMI.
In Europe, the docket will feature Flash PMIs, the Producer Price Index (PPI) and speeches by ECB officials.
EUR/USD Price Forecast: Technical outlook
In the daily chart, EUR/USD trades at 1.1630, holding a modestly bearish near-term bias as it sits under the clustered triple simple moving average (SMA) at 1.1667. The pair still hovers above an upward support trend line projected from the 1.1592 break area, but soft momentum, with the 14-period Relative Strength Index (RSI) around 45, hints that bounces may struggle while prices remain capped beneath these overhead averages and descending resistance lines.
On the topside, immediate resistance is seen at the triple SMA near 1.1667, with a more substantial barrier aligning with the higher downward resistance trend line around the 1.1804 break zone. On the downside, initial support emerges from the rising trend line tied to the 1.1592 break level, while a deeper setback would expose the former resistance trend structure that now acts as a broader floor around 1.1219.
(The technical analysis of this story was written with the help of an AI tool.)
Euro Price This week
The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the strongest against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.22% | -0.08% | 0.34% | 0.27% | -0.09% | 0.76% | 0.82% | |
| EUR | -0.22% | -0.30% | 0.11% | 0.06% | -0.30% | 0.57% | 0.60% | |
| GBP | 0.08% | 0.30% | 0.43% | 0.36% | 0.00% | 0.87% | 0.89% | |
| JPY | -0.34% | -0.11% | -0.43% | -0.02% | -0.37% | 0.44% | 0.46% | |
| CAD | -0.27% | -0.06% | -0.36% | 0.02% | -0.42% | 0.46% | 0.52% | |
| AUD | 0.09% | 0.30% | -0.00% | 0.37% | 0.42% | 0.87% | 0.91% | |
| NZD | -0.76% | -0.57% | -0.87% | -0.44% | -0.46% | -0.87% | 0.00% | |
| CHF | -0.82% | -0.60% | -0.89% | -0.46% | -0.52% | -0.91% | -0.01% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
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