Technical Analysis

As the weekend approached, EUR/USD was under pressure, with New York opening near 1.0885 after trading between 1.09017 and 1.08760 overnight.

EUR/USD traded lower on Thursday after the European Central Bank (ECB) left rates unchanged, as expected.

The yen's recent rise has significant implications for other currencies as many investors have sold the yen to fund their investments in carry trades.

GBP/USD retreated further from recent highs near 1.30 after hotter-than-expected U.S. June retail sales slightly dialed back expectations for Federal Reserve rate cuts.

EUR/USD reached a four-month high on Monday but faced investor indecision as the session progressed.

GBP/USD rallied to a 2024 peak of 1.2975, undeterred by higher-than-expected U.S. producer price inflation, as the pair continued its gradual climb towards the July 2023 highs above 1.30.

There's no doubt among most Tokyo traders that Japan's Ministry of Finance (MOF) ordered a fresh round of FX intervention following the U.S. consumer price report on Thursday.

EUR/USD traded higher on Wednesday, buoyed by lower U.S. yields that pressured the dollar. This price action supports bullish technical signals, but confirmation will likely depend on upcoming U.S. pricing and employment reports.

After its recent brief recovery, the Japanese yen is once again losing ground against the dollar.

EUR/USD turned positive and hit a three-week high after briefly falling below the 200-day moving average on Monday.