FxAnalysis

EUR/JPY remains bullish as yen weakness supports the carry trade, with 185–185.50 as key resistance and 182 as the main dip-buying zone.

The Bank of England (BoE) is being priced to hike around 70 basis points before year-end. The 10-year gilt is near 5.2%, its highest since the 2008 financial crisis. The 30-year sits at levels last seen in 1998. None of it is helping the Pound.

Gold is back in the red around $4,550 in Asia on Tuesday, having faced rejection once again just shy of the $4,600 mark, as markets digest the latest developments around the conflict between the United States (US) and Iran.

The Aussie Dollar’s uptrend seems to have met some decent resistance in the 0.7270-0.7280 band so far, with AUD/USD still looking for a strong catalyst to extend its rally and dispute the yearly peaks and higher levels.

XAU/USD bottomed at $4,480 at the beginning of the week, its lowest since late March, as a dismal market sentiment fueled demand for the US Dollar (USD).

GBP/USD remains under pressure as US yields support the dollar, but the pair may try to build a base if rates begin to ease.