Fundamental

USD/JPY remains capped near 160, but the broader bias still favors buying dips while 158 support holds and yield differentials favor the dollar.

Gold continues to move with US yields, but as long as $4,600 support holds, dip-buying remains favored within a volatile $4,600–$4,900 range.

EUR/USD is stabilizing at the 50-day EMA, but strong resistance near 1.18 and ongoing rate and energy pressures keep the pair rangebound.

The GBP/USD pair edges higher during the first half of the European session on Friday and recovers a part of the previous day’s losses to levels just below mid-1.3400s, or a nearly two-week trough.

Gold is testing the $4,700 level early Friday, holding at its weakest level in over a week and eyeing the first weekly drop in five weeks.

Silver came under selling pressure in the second half of Thursday, as risk aversion fueled US Dollar (USD) demand.