Analysis

USD/JPY halts its four-day losing streak, trading around 142.90 during the Asian session on Monday.

The Australian Dollar (AUD) recovers its recent losses against the US Dollar (USD) due to the hawkish sentiment surrounding the Reserve Bank of Australia (RBA).

The GBP/USD pair attracts some dip-buying during the Asian session on Monday and climbs back closer to mid-1.3100s in the last hour, though a combination of factors might cap any further gains.

DXY drifts lower for the third successive day and drops to over a one-week low on Friday.

Japan equities were lower at the close on Friday, as losses in the Precision Instruments, Mining and Chemical, Petroleum&Plastic sectors propelled shares lower.

The GBP/USD pair trades in positive territory for the third consecutive day around 1.3180 on Friday during the Asian trading hours. Investors see a roughly one-in-four chance that the BoE will cut rates in the September meeting. 

US Dollar weakened on Thursday after mixed US economic data.

The GBP/JPY cross trades in negative territory for the third consecutive day near 188.15 during the early European session on Thursday.

Japan equities were lower at the close on Thursday, as losses in the Precision Instruments, Mining and Chemical, Petroleum&Plastic sectors propelled shares lower.

The GBP/USD pair trades with a positive bias around mid-1.3100s during the Asian session on Thursday, albeit it lacks strong follow-through buying and remains below the weekly top touched the previous day.

EUR/USD inches lower to near 1.1070 during the Asian session on Thursday. The downside of the EUR/USD pair could be attributed to improved US Dollar (USD) amid rising US Treasury yields.

USD/CAD retraces its recent losses, trading around 1.3510 during the Asian hours on Thursday. The US Dollar (USD) remains solid as traders adopt caution ahead of the release of US ISM Services PMI and Initial Jobless Claims scheduled to be released later in the North American session.

The AUD/JPY cross remains under some selling pressure for the third successive day on Thursday and drops to a three-and-half-week low during the Asian session on Thursday.

The AUD/USD pair softens around 0.6720 during the early Asian session on Thursday.

European Central Bank policymaker Joachim Nagel said on Tuesday that "the great wave of inflation is over", adding he will not decide whether to vote to cut rates in September until next week, per Reuters.

Citi economists weighed in on the possible actions of the Reserve Bank of Australia (RBA) in response to a hypothetical large rate cut by the U.S. Federal Reserve.

The Japanese Yen (JPY) continues to strengthen against the US Dollar (USD) following the release of the Jibun Bank Services PMI data on Wednesday.

The U.S. dollar reached a two-week peak compared to the euro, with investors preparing for a week filled with crucial data, including the U.S. payrolls report due on Friday.

The AUD/USD pair gains traction near 0.6715 during the early Asian session on Wednesday.

EUR/USD tilted further into the low side on Tuesday, with intraday bottom bids testing into two-week lows before settling the day near 1.1050 once again.