Commerzbank’s Michael Pfister notes that despite the war-related volatility in G10 FX, the Swiss Franc (CHF) has been one of the weakest G10 currencies, even though it remains a key safe haven.
The Japanese Yen (JPY) gains against the US Dollar (USD) as easing oil prices fade stagflation concerns in Japan. However, the recent surge in energy costs linked to Middle East concerns, fueled expectations of a near-term Bank of Japan (BoJ) rate hike.
According to a report from the New York Times (NYT), Iranian officials had proposed suspending its uranium enrichment for up to five years in its weekend talks with the United States (US) in Pakistan.
Asian stock markets add significant gains on Tuesday as comments from United States (US) President Donald Trump and Vice President (VP) JD Vance, hinting that talks with Iran were not a complete failure, have prompted demand for risk-sensitive assets.
The AUD/USD pair struggles to capitalize on the previous day's strong move up and retreats slightly from the 0.7100 mark, or a nearly four-week high set during the Asian session this Tuesday.
Gold prices rose in India on Tuesday, according to data compiled by FXStreet.
Japan Industrial Production (MoM) came in at -2%, above expectations (-2.1%) in February
Japan Industrial Production (YoY): 0.4% (February) vs 0.3%
Japan Capacity Utilization dipped from previous 2.9% to -0.1% in February
USD/CHF continues its losing streak for the seventh successive day, trading around 0.7830 during the Asian hours on Tuesday. The pair continues to strengthen as the Swiss Franc (CHF) receives support as easing oil prices increase pressure on the Swiss National Bank (SNB) to adjust policy.
Iran-backed Hezbollah has stated in the Asian session on Tuesday that it won’t accept terms from agreements between Israel and Lebanon, who are scheduled for peace talks in Washington at 15:00 GMT.
The Pound Sterling (GBP) extends its rally to near 1.3515 against the US Dollar (USD) during the Asian trading session on Tuesday.
