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GBP/USD steadies as Iran deadlock keeps Dollar bid in check
GBP/USD holds steady on Wednesday as geopolitical tensions remain high amid the lack of progress toward resuming negotiations between the US and Iran. An absent economic schedule in the US, keeps traders leaning on the latest UK inflation figures, which showed the effects of the energy shock.
Fxstreet
Wed, Apr 22
EUR/GBP weakens as UK CPI lifts GBP; technicals signal downside below 200-day SMA
EUR/GBP trades on the back foot on Wednesday as UK inflation data lifts the British Pound (GBP), pressuring the Euro (EUR), with the cross extending losses for the second consecutive day. At the time of writing, EUR/GBP is trading around 0.8680, its lowest level since March 31.
Fxstreet
Wed, Apr 22
USD/JPY: Consolidation holds ahead of BoJ decision – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret highlight that the Japanese Yen (JPY) is flat against the US Dollar (USD), underperforming G10 peers in subdued trading. USD/JPY price action suggests consolidation in a 157.50–160.50 band, with a flat RSI signaling limited momentum.Fxstreet
Wed, Apr 22
USD/CAD: Bear trend extends with downside risks – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is little changed versus the US Dollar (USD), trading around the midpoint of Tuesday’s range. April’s broader USD decline has largely closed CAD’s valuation gap to fair value near 1.3563.
Fxstreet
Wed, Apr 22
USD/JPY steadies above 159.00 with the US-Iran ceasefire into pressure
The US Dollar (USD) is trading practically flat, right above 159.00 against the Japanese Yen (JPY) on Wednesday, consolidating Tuesday’s gains amid cautious markets. Most US Dollar crosses remain moving within previous ranges as the situation in the Middle East deteriorates.Fxstreet
Wed, Apr 22
EUR/USD: Range-bound outlook with policy risks – Societe Generale
Societe Generale’s Kit Juckes argues EUR/USD is likely to stay range-bound as geopolitical risks and US policy uncertainty offset economic fundamentals. He notes two-year rate differentials point to EUR/USD near 1.14–1.17, while consensus GDP suggests 1.14 is appropriate.Fxstreet
Wed, Apr 22
USD/JPY: Testing highs but momentum still muted – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann observe that USD/JPY climbed to 159.37 as the Dollar strengthened. They see scope for a retest of 159.65, with limited follow-through above that level, and expect a broader 157.55–160.50 range.Fxstreet
Wed, Apr 22
EUR/USD Price Forecast: 61.8% Fibo retracement at 1.1825 remains key barrier
The EUR/USD pair trades flat at around 1.1745 during the European trading session on Wednesday. The major currency pair consolidates while the US Dollar (USD) edges lower amid hopes of a prolonged standoff between the United States (US) and Iran.Fxstreet
Wed, Apr 22
GBP/USD nudges higher on UK inflation as firm US data restrain Pound
GBP/USD trades around 1.3515 on Wednesday, gaining a modest 0.06% at the time of writing, as investors digest the latest inflation figures from the United Kingdom (UK) and assess the outlook for monetary policy on both sides of the Atlantic.Fxstreet
Wed, Apr 22
GBP/USD: Range trading view after CPI – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes that United Kingdom (UK) inflation remains persistently above target, limiting the Bank of England’s (BoE) ability to ignore the energy shock. However, he argues current BoE rate hike expectations are excessive given estimated economic slack.Fxstreet
Wed, Apr 22
Silver Price Forecasts: XAG/USD finds resistance at a previous support near $78.50
Silver (XAG/USD) nudges higher on Wednesday, but remains at the lower range of Tuesday’s trading, consolidating below $78.00 and with the previous support area of $78.50 capping upside attempts, for now.
Fxstreet
Wed, Apr 22
EUR/GBP: Limited downside after inflation data – ING
ING strategist Francesco Pesole argues that EUR/GBP has limited further downside after slipping below 0.8700, as United Kingdom (UK) political risks and stretched Bank of England (BoE) tightening expectations offset risk-on pressures.Fxstreet
Wed, Apr 22
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