The US Dollar (USD) holds its Monday’s corrective move, which was driven by a significant retracement in the oil price that eased de-anchored consumer inflation concerns.
The US Dollar (USD) holds its Monday’s corrective move, which was driven by a significant retracement in the oil price that eased de-anchored consumer inflation concerns.
The AUD/USD pair attracts some sellers to near 0.7060 during Asian trading hours on Tuesday. The Australian Dollar (AUD) edges lower against the US Dollar (USD) after the Reserve Bank of Australia (RBA) interest rate decision.
GBP/USD inches lower after registering nearly 0.75 gains in the previous session, trading around 1.3310 during the Asian hours on Tuesday.
AUD/JPY pares its daily gains, trading around 112.50 during the Asian hours on Tuesday. The currency cross loses ground as the Australian Dollar (AUD) struggles following the release of the Reserve Bank of Australia (RBA) policy decision.
The EUR/USD pair struggles to capitalize on the previous day's goodish recovery move from the 1.1415-1.1410 area, or from the vicinity of the lowest level since July 2025, and edges lower during the Asian session on Tuesday.
USD/JPY recovers losses from the previous session, trading near 159.40 during Asian hours on Tuesday. However, the upside of the pair may be limited as the Japanese Yen (JPY) could find support from potential intervention by Japanese authorities.
The Reserve Bank of Australia (RBA) is set to deliver another 25 basis points (bps) interest rate hike following its March monetary policy meeting on Tuesday, lifting the Official Cash Rate (OCR) to 4.10% from 3.85%.
The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Tuesday at 6.8961 compared to the previous day's fix of 6.9057 and 6.8874 Reuters estimate.
AUD/USD edges lower after posting more than 1.25% gains in the previous session, trading near 0.7060 during Asian hours on Tuesday.
Silver (XAG/USD) trades around $80.50 on Tuesday at the time of writing, down 0.60% on the day. The white metal remains under pressure as expectations for near-term US interest rate cuts fade amid rising inflation concerns linked to the Middle East conflict.