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The EUR/USD pair surged to a 1-1/2-month high on Wednesday

The USD/JPY pair is in a critical phase, with its recent recovery from this month’s low of 151.90 being closely watched by market participants.

The USD/JPY pair has gained 0.28%, surpassing 156.05, marking a significant 50% retracement of its recent plunge.

Last Friday, EUR/USD encountered notable resistance at 1.0790, influenced by multiple factors signaling potential market shifts.

When yields on US Treasury bonds decrease, it can lead to a decreased demand for the US dollar, thereby causing its value t decline against other currencies like the Japanese yen.

The pound softened ahead of Thursday's Bank of England (BoE) meeting, with the possibility of a rate cut in June hovering near 50% odds.

The GBP/USD currency pair experienced a 0.30% decline, reaching 1.2520 and slipping below recent lows.

The USD/JPY pair experienced a significant 0.6% increase on Monday, albeit with potential limitations on further upside movement expected before the release of key U.S. economic data on May 15th

GBP/USD saw an upward movement recently but struggled to maintain momentum, particularly evident in its failure to close above the 200-day SMA.

The EUR/USD currency pair opened trading near the 1.0700 level, with the most recent transaction occurring at 1.0725.