The Australian Dollar (AUD) is trading higher against the US Dollar (USD) for the second consecutive day on Tuesday, but the pair failed to find any significant acceptance above 0.6950.
The Euro (EUR) extends losses against the British Pound (GBP) for the second consecutive day on Tuesday, approaching the bottom of its near-term horizontal range at 0.8700, from Monday’s highs at 0.8735.
The Indian Rupee (INR) ticks up against the US Dollar (USD) on Tuesday, with the USD/INR pair edging down to near 93.00.
National Bank of Canada (NBC) economists Stéfane Marion and Kyle Dahms describe recent Euro (EUR) weakness versus Dollar (USD) after the Iran conflict and energy shock, but keep a recovery bias for EUR/USD.
Japan’s Finance Minister (FM) Satsuki Katayama said during European trading hours on Tuesday that the administration remains focused on mitigating risks to the Japanese economy in the wake of the Middle East war.
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note USD/JPY traded quietly between 159.28 and 159.82, closing at 159.68, with a firm underlying tone.
The Euro (EUR) has brushed off previous weakness to extend its recovery against the US Dollar (USD) to reach fresh weekly highs above 1.1570 on Tuesday's European morning session.
Societe Generale economists describe a quiet week in the UK, with Gilt yields easing as markets trimmed Bank of England (BoE) hike expectations after Governor Bailey pushed back on tightening.
EUR/CAD gains ground as the Euro (EUR) receives support from the hawkish tone of the European Central Bank (ECB). The currency cross is trading around 1.6100 during the European hours on Tuesday.
Silver prices (XAG/USD) rose on Tuesday, according to FXStreet data. Silver trades at $72.88 per troy ounce, up 0.12% from the $72.79 it cost on Monday.
DBS Group Research’s Philip Wee expects the Reserve Bank of New Zealand to keep policy on hold at its April 8 meeting, looking through energy-driven inflation. He notes Governor Anna Breman’s conditional hawkishness if inflation expectations de-anchor.
Singapore Foreign Reserves (MoM) climbed from previous 416.1B to 419.2B in March
