Forex News
- AUD/JPY loses ground to near 113.95 in Tuesday’s early European session.
- The constructive outlook of the cross remains intact above the 100-day EMA, with bullish RSI momentum.
- The initial support level is located at 111.75, while the first upside barrier emerges at 115.10.
The AUD/JPY cross edges lower to around 113.95 during the early European session on Tuesday. The Japanese Yen (JPY) gathers strength against the Australian Dollar (AUD) as markets turn cautious ahead of potential US-Iran peace talks.
Bloomberg reported on Tuesday that US Vice President JD Vance will travel to Pakistan later on Monday to resume negotiations, “either Tuesday night or Wednesday morning.” Vance is expected to be joined by Jared Kushner and special envoy Steve Witkoff.
The fate of Iran peace talks remained uncertain as US President Donald Trump said earlier on Tuesday that he’s not likely to extend the two-week ceasefire with Iran, increasing the urgency for negotiators to reach a deal to end the war.
Traders will closely monitor the Middle East developments and the US-Iran negotiations. Any signs of prolonged conflict could boost a safe-haven currency such as the Japanese Yen (JPY) and act as a headwind for the cross.
Technical Analysis:
In the daily chart, AUD/JPY retains a bullish near‑term bias as price holds well above the 20‑day Bollinger simple moving average and the 100‑day exponential moving average (EMA), underscoring a firmly supported uptrend. The upper Bollinger band marks the immediate topside cap, while the Relative Strength Index (14) at 67.56 hovers just below overbought territory, suggesting strong but stretched upside momentum.
On the downside, initial support comes at the Bollinger middle band around 111.75, where a pullback could attract dip‑buyers. A deeper correction would expose the next demand area clustered around the 100‑day EMA at 108.51 and the lower Bollinger band at 108.41. On the topside, a sustained break above the upper band at 115.10 would open the door to further gains, although the overextended momentum backdrop hints that upside could slow ahead of that barrier.
(The technical analysis of this story was written with the help of an AI tool.)
Japanese Yen FAQs
The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.
One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen.
Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential.
The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.
Gold prices fell in India on Tuesday, according to data compiled by FXStreet.
The price for Gold stood at 14,428.73 Indian Rupees (INR) per gram, down compared with the INR 14,513.10 it cost on Monday.
The price for Gold decreased to INR 168,293.80 per tola from INR 169,277.90 per tola a day earlier.
Unit measure | Gold Price in INR |
|---|---|
1 Gram | 14,428.73 |
10 Grams | 144,287.30 |
Tola | 168,293.80 |
Troy Ounce | 448,784.40 |
FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
- AUD/USD reverses a part of the previous day’s goodish bounce amid a modest USD strength.
- Nervousness ahead of US-Iran peace talks benefits the safe-haven USD and weighs on the pair.
- The divergent Fed-RBA policy expectations should limit any meaningful losses for spot prices.
The AUD/USD pair struggles to capitalize on the previous day's goodish rebound from the 0.7115 region, or a three-day low, and attracts some sellers during the Asian session on Tuesday. Spot prices, however, lack bearish conviction and currently trade around the 0.7165 zone, down 0.15% for the day and well within striking distance of the highest level since June 2022, touched last Friday.
Investors' sentiment remains tied to developments surrounding the US-Iran conflict, with the stand-off over the Strait of Hormuz keeping a lid on the optimism ahead of the second round of peace talks in Pakistan. The cautious tone, in turn, offers some support to the safe-haven US Dollar (USD). Moreover, elevated Crude Oil prices revive inflationary concerns and further benefit the Greenback, which is seen as a key factor exerting some pressure on the AUD/USD pair.
Any meaningful USD appreciation, however, seems elusive in the wake of diminishing odds for an interest rate hike by the US Federal Reserve (Fed). Instead, the current market pricing indicates that there is a roughly 45-50% chance of a Fed rate cut by the year-end. This marks a significant divergence in comparison to the Reserve Bank of Australia's (RBA) hawkish outlook, which might hold back traders from placing aggressive bearish bets around the AUD/USD pair.
In fact, RBA Deputy Governor Andrew Hauser reiterated last week that the central bank is focused on preventing any lift in medium-term inflation expectations. The comments reaffirmed bets for further RBA policy tightening in 2026. In fact, traders are factoring in a 65% chance of a 25 basis point rise in May, with forecasts suggesting a potential peak of 4.85% by mid-2026. This favors the AUD/USD bulls and warrants caution before positioning for further losses.
RBA FAQs
The Reserve Bank of Australia (RBA) sets interest rates and manages monetary policy for Australia. Decisions are made by a board of governors at 11 meetings a year and ad hoc emergency meetings as required. The RBA’s primary mandate is to maintain price stability, which means an inflation rate of 2-3%, but also “..to contribute to the stability of the currency, full employment, and the economic prosperity and welfare of the Australian people.” Its main tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will strengthen the Australian Dollar (AUD) and vice versa. Other RBA tools include quantitative easing and tightening.
While inflation had always traditionally been thought of as a negative factor for currencies since it lowers the value of money in general, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Moderately higher inflation now tends to lead central banks to put up their interest rates, which in turn has the effect of attracting more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in the case of Australia is the Aussie Dollar.
Macroeconomic data gauges the health of an economy and can have an impact on the value of its currency. Investors prefer to invest their capital in economies that are safe and growing rather than precarious and shrinking. Greater capital inflows increase the aggregate demand and value of the domestic currency. Classic indicators, such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can influence AUD. A strong economy may encourage the Reserve Bank of Australia to put up interest rates, also supporting AUD.
Quantitative Easing (QE) is a tool used in extreme situations when lowering interest rates is not enough to restore the flow of credit in the economy. QE is the process by which the Reserve Bank of Australia (RBA) prints Australian Dollars (AUD) for the purpose of buying assets – usually government or corporate bonds – from financial institutions, thereby providing them with much-needed liquidity. QE usually results in a weaker AUD.
Quantitative tightening (QT) is the reverse of QE. It is undertaken after QE when an economic recovery is underway and inflation starts rising. Whilst in QE the Reserve Bank of Australia (RBA) purchases government and corporate bonds from financial institutions to provide them with liquidity, in QT the RBA stops buying more assets, and stops reinvesting the principal maturing on the bonds it already holds. It would be positive (or bullish) for the Australian Dollar.
US President Donald Trump said that operation Midnight Hammer was a complete and total obliteration of the nuclear dust sites in Iran, Reuters reported on Tuesday. Trump further stated that “digging it out will be a long and difficult process.”
"Operation Midnight Hammer was a complete and total obliteration of the Nuclear Dust sites in Iran. Therefore, digging it out will be a long and difficult process. Fake News CNN, and other corrupt Media Networks and Platforms, fail to give our great aviators the credit they deserve - Always trying to demean and belittle - LOSERS!!!,” said Trump on Truth Social.
Operation Midnight Hammer was an attack the US launched on Iran in June last year after 12 days of Israel bombing parts of the Islamic Republic over the alleged Iranian nuclear program.
Market reaction
At the time of writing, the West Texas Intermediate (WTI) is up 0.75% on the day at $86.20.
Brent Crude Oil FAQs
Brent Crude Oil is a type of Crude Oil found in the North Sea that is used as a benchmark for international Oil prices. It is considered ‘light’ and ‘sweet’ because of its high gravity and low sulfur content, making it easier to refine into gasoline and other high-value products. Brent Crude Oil serves as a reference price for approximately two-thirds of the world's internationally traded Oil supplies. Its popularity rests on its availability and stability: the North Sea region has well-established infrastructure for Oil production and transportation, ensuring a reliable and consistent supply.
Like all assets supply and demand are the key drivers of Brent Crude Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of Brent Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.
The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of Brent Crude Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact Brent Crude Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
- EUR/JPY consolidates in a range on Tuesday amid a combination of diverging forces.
- Economic concerns due to the Hormuz risks undermine the JPY and support the cross.
- Intervention fears and hawkish BoJ bets limit JPY losses, capping gains for spot prices.
The EUR/JPY cross struggles to capitalize on the previous day's goodish rebound from the 186.25 area, or a one-week low, and oscillates in a narrow range during the Asian session on Tuesday. Spot prices currently trade around the 187.20-187.25 region, nearly unchanged for the day, and remain well within the striking distance of the highest level since August 1990, touched last Friday.
The Japanese Yen (JPY) weakens slightly in reaction to a Reuters report that the Bank of Japan (BoJ) is increasingly likely to hold interest rates steady at its upcoming April meeting. This comes on top of economic concerns stemming from the Middle East conflict and the risk to energy supplies due to continued disruptions to shipping through the Strait of Hormuz. This turns out to be a key factor acting as a tailwind for the EUR/JPY cross.
The BoJ, however, is expected to signal readiness to hike in June as imported energy costs cloud the inflation picture. Moreover, speculations that Japanese authorities would step in to stem further weakness in the domestic currency hold back the JPY bears from placing aggressive bets. Apart from this, a modest US Dollar (USD) uptick is seen weighing on the shared currency, which contributes to capping the upside for the EUR/JPY cross.
The recent breakout above the 185.00 psychological mark comes on top of repeated rebounds from the 100-day Exponential Moving Average (EMA) and favors the EUR/JPY bulls. Adding to this, the Moving Average Convergence Divergence (MACD) indicator is in positive territory, and its histogram is still constructive. Moreover, the Relative Strength Index (RSI) hovers around 64, hinting at strong but not yet extreme buying pressure.
Meanwhile, initial support is reinforced by the 100-day EMA near 183.04, where a deeper pullback would be expected to attract dip-buying interest while the broader bullish structure remains intact. Unless the EUR/JPY cross slides back through this floor, the technical setup suggests that spot prices remain positioned to extend gains, with any consolidation above the moving average likely to be viewed as a pause within the prevailing uptrend rather than a trend reversal.
(The technical analysis of this story was written with the help of an AI tool.)
EUR/JPY daily chart
Japanese Yen FAQs
The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.
One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen.
Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential.
The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.
- USD/CHF rises as the US Dollar strengthens on safe-haven demand amid persistent uncertainty over US–Iran talks.
- President Trump said Vice President Vance will leave Monday for Pakistan to resume negotiations.
- Traders expect SNB policymakers ready to intervene in FX markets to curb excessive Swiss Franc appreciation.
USD/CHF edges higher after registering modest losses in the previous day, trading around 0.7790 during the Asian hours on Tuesday. The pair gains ground as the US Dollar (USD) receives support from increasing risk aversion, driven by persistent uncertainty surrounding US–Iran ceasefire negotiations. Traders assess ongoing geopolitical tensions in the Middle East as the 14-day ceasefire deadline approaches.
Bloomberg reported that US President Donald Trump stated that US Vice President JD Vance is leaving later on Monday for Pakistan to resume negotiations, “either Tuesday night or Wednesday morning.” Iran is also sending a team, although it is unclear who would lead the delegation.
President Donald Trump has issued mixed signals earlier on the Iran war, saying he is not rushing to end it while expressing optimism about renewed talks with Tehran ahead of Wednesday’s ceasefire expiry.
However, the upside of the USD/CHF pair could be limited as the Swiss Franc (CHF) may find support from safe-haven inflows. Additionally, the CHF may also gain ground as rising concerns over a prolonged energy-driven inflation shock reinforce expectations of a more hawkish Swiss National Bank (SNB). Meanwhile, SNB meeting minutes from March highlighted growing uncertainty surrounding Switzerland’s economic outlook.
Market participants expect the SNB to intervene in FX markets to curb a rapid and excessive appreciation of the Swiss Franc. Traders await Swiss Trade Balance data due later in the day.
Swiss Franc FAQs
The Swiss Franc (CHF) is Switzerland’s official currency. It is among the top ten most traded currencies globally, reaching volumes that well exceed the size of the Swiss economy. Its value is determined by the broad market sentiment, the country’s economic health or action taken by the Swiss National Bank (SNB), among other factors. Between 2011 and 2015, the Swiss Franc was pegged to the Euro (EUR). The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone.
The Swiss Franc (CHF) is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress. This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in.
The Swiss National Bank (SNB) meets four times a year – once every quarter, less than other major central banks – to decide on monetary policy. The bank aims for an annual inflation rate of less than 2%. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame price growth by raising its policy rate. Higher interest rates are generally positive for the Swiss Franc (CHF) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken CHF.
Macroeconomic data releases in Switzerland are key to assessing the state of the economy and can impact the Swiss Franc’s (CHF) valuation. The Swiss economy is broadly stable, but any sudden change in economic growth, inflation, current account or the central bank’s currency reserves have the potential to trigger moves in CHF. Generally, high economic growth, low unemployment and high confidence are good for CHF. Conversely, if economic data points to weakening momentum, CHF is likely to depreciate.
As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland’s main economic partner and a key political ally, so macroeconomic and monetary policy stability in the Eurozone is essential for Switzerland and, thus, for the Swiss Franc (CHF). With such dependency, some models suggest that the correlation between the fortunes of the Euro (EUR) and the CHF is more than 90%, or close to perfect.
- NZD/USD remains broadly firm above 0.5900 as market sentiment turns favorable for riskier assets.
- Iran’s confirmation for another round of peace talks with the US has improved investors’ risk appetite.
- NZ Q1 CPI grew at a stronger pace of 0.9%m beating 0.8% estimates.
The NZD/USD pair trades 0.3% higher above 0.5900 during the Asian trading session on Tuesday, but struggles to extend its gains above 0.5920. The Kiwi pair broadly reflects strength as the market sentiment turns risk-on due to reports claiming that Iran has agreed to another round of peace talks with the United States (US).
New Zealand Dollar Price Today
The table below shows the percentage change of New Zealand Dollar (NZD) against listed major currencies today. New Zealand Dollar was the strongest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.12% | 0.14% | 0.10% | 0.02% | 0.15% | -0.13% | 0.12% | |
| EUR | -0.12% | 0.03% | -0.02% | -0.10% | 0.04% | -0.25% | 0.01% | |
| GBP | -0.14% | -0.03% | -0.04% | -0.11% | 0.00% | -0.28% | -0.01% | |
| JPY | -0.10% | 0.02% | 0.04% | -0.07% | 0.05% | -0.26% | 0.02% | |
| CAD | -0.02% | 0.10% | 0.11% | 0.07% | 0.12% | -0.18% | 0.10% | |
| AUD | -0.15% | -0.04% | -0.01% | -0.05% | -0.12% | -0.30% | -0.02% | |
| NZD | 0.13% | 0.25% | 0.28% | 0.26% | 0.18% | 0.30% | 0.28% | |
| CHF | -0.12% | -0.01% | 0.01% | -0.02% | -0.10% | 0.02% | -0.28% |
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 New Zealand Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent NZD (base)/USD (quote).
In the Asian trade, S&P 500 futures are 0.15% higher to near 7,120, reflecting an upbeat market mood. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, is marginally higher to near 98.10.
A report from the Wall Street Journal (WSJ) states that Iran has told regional mediators that it would send a negotiating team to Islamabad on Tuesday for the second round of talks with the US. However, there has been no official confirmation by Tehran.
On Monday, Iran's foreign ministry spokesperson Esmail Baghaei said that there is “no plan for a second round of negotiations with the US for now. Baghaei added that the US seems “not serious” about pursuing the diplomatic process, remains committed to 'aggressive acts' and has violated ceasefire provisions.
On the domestic front, higher-than-projected New Zealand (NZ) Q1 Consumer Price Index (CPI) data is expected to force traders to raise bets supporting interest rate hikes by the Reserve Bank of New Zealand (RBNZ) in the near term.
Earlier in the data, the data showed that the NZ CPI grew by 0.9%, beating estimates of 0.8% and the previous reading of 0.6%. On an annualized basis, price pressures rose steadily by 3.1%. while they were anticipated to have grown at a moderate pace of 2.9%.
Economic Indicator
Consumer Price Index (QoQ)
The Consumer Price Index (CPI), released by Statistics New Zealand on a quarterly basis, measures changes in the price of goods and services bought by New Zealand households. The CPI is a key indicator to measure inflation and changes in purchasing trends. The QoQ reading compares prices in the reference quarter to the previous quarter. A high reading is seen as bullish for the New Zealand Dollar (NZD), while a low reading is seen as bearish.
Read more.Last release: Mon Apr 20, 2026 22:45
Frequency: Quarterly
Actual: 0.9%
Consensus: 0.8%
Previous: 0.6%
Source: Stats NZ
With the Reserve Bank of New Zealand's (RBNZ) inflation target being around the midpoint of 2%, Statistics New Zealand’s quarterly Consumer Price Index (CPI) publication is of high significance. The trend in consumer prices tends to influence RBNZ’s interest rates decision, which in turn, heavily impacts the NZD valuation. Acceleration in inflation could lead to faster tightening of the rates by the RBNZ and vice-versa. Actual figures beating forecasts render NZD bullish.
- GBP/USD may find the primary barrier at the two-month high of 1.3599.
- The 14-day Relative Strength Index near 59 remains positive, without indicating overbought conditions.
- The immediate support lies at the lower boundary of the ascending channel around 1.3500.
GBP/USD inches lower after registering modest gains in the previous day, trading around 1.3520 during the Asian hours on Tuesday. The technical analysis of the daily chart indicates an ongoing bullish bias, as the pair moves within the ascending channel pattern.
The GBP/USD pair trades with a mildly bullish near-term bias, holding above both the nine-period and 50-period Exponential Moving Averages (EMAs). The short-term EMA trading above the longer one hints at constructive momentum.
The 14-day Relative Strength Index (RSI) around 59 stays in positive territory without yet signaling overbought conditions, suggesting room for further gains as long as the pair remains supported on dips.
The initial barrier lies at the two-month high of 1.3599, recorded on April 17, followed by the upper boundary of the ascending channel around 1.3750. A break above the channel would reinforce the bullish bias and support the GBP/USD pair to approach the 1.3869, the highest level since September 2021, reached on January 27.
On the downside, the GBP/USD pair may find its immediate support at the lower boundary of the ascending channel around 1.3500, followed by the nine-day EMA at 1.3493. Further declines below this confluence support zone would put downward pressure on the pair to test the 50-day EMA at 1.3423. A sustained break below the medium-term average would expose a nearly five-month low of 1.3159, recorded on March 31, followed by the 1.3010, the lowest since April 2025, which was recorded in November 2025.
(The technical analysis of this story was written with the help of an AI tool.)
Pound Sterling Price Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the weakest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.09% | 0.10% | 0.06% | 0.00% | 0.10% | -0.32% | 0.08% | |
| EUR | -0.09% | 0.02% | -0.02% | -0.09% | 0.04% | -0.41% | 0.00% | |
| GBP | -0.10% | -0.02% | -0.02% | -0.10% | 0.00% | -0.43% | -0.01% | |
| JPY | -0.06% | 0.02% | 0.02% | -0.05% | 0.02% | -0.43% | 0.00% | |
| CAD | -0.00% | 0.09% | 0.10% | 0.05% | 0.08% | -0.36% | 0.07% | |
| AUD | -0.10% | -0.04% | -0.01% | -0.02% | -0.08% | -0.44% | -0.01% | |
| NZD | 0.32% | 0.41% | 0.43% | 0.43% | 0.36% | 0.44% | 0.43% | |
| CHF | -0.08% | -0.00% | 0.01% | -0.01% | -0.07% | 0.00% | -0.43% |
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 British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
- US Dollar Index posts modest gains around 98.10 in Tuesday’s Asian session.
- US Vice President JD Vance will travel to Pakistan for talks with Iran.
- The US March Retail Sales report is due later on Tuesday.
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 98.10 during the Asian trading hours on Tuesday. The DXY trades with mild gains as traders await the developments surrounding the US-Iran talks.
US President Donald Trump stated that US Vice President JD Vance is leaving later on Monday to resume negotiations, “either Tuesday night or Wednesday morning,” Bloomberg reported, citing people familiar with the plans. Vance is expected to be joined by Jared Kushner and special envoy Steve Witkoff.
The next round of talks is expected to take place in Pakistan. Iran is also sending a team, although it is unclear who would lead the delegation. Earlier Tuesday, Trump said that he’s not likely to extend the two-week ceasefire with Iran, increasing the urgency for negotiators to reach a deal to end the war.
The US March Retail Sales report will be in the spotlight later on Tuesday. Retail Sales are projected to show a rise of 1.4% MoM in March, compared to 0.6% in February. In case of a softer-than-expected reading, this could undermine the US Dollar (USD) in the near term.
US Dollar FAQs
The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away.
The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback.
In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar.
Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.
Japanese Finance Minister Satsuki Katayama said on Tuesday that the country’s government will continue to closely monitor financial markets and take measures if needed.
Katayama further noted that they are “seeing high volatility in financial markets, and they are closely watching with a high sense of vigilance.”
Market reaction
USD/JPY was last seen trading near 159.00, up 0.13% on the day, with traders now weighing the Japanese jawboning.
Japanese Yen FAQs
The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.
One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen.
Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential.
The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.
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