USD/JPY is trading in a higher range of 152.40/153.30 – UOB Group

FXStreet Insights Team FXStreet

Firmed underlying tone is likely to lead to US Dollar (USD) trading in a higher range of 152.40/153.30. In the longer run, upward momentum is starting to build, but for a continued advance, USD must first close above 153.00, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Upward momentum is starting to build

24-HOUR VIEW: "We expected USD to 'consolidate between 152.00 and 152.85' last Friday. However, USD traded in a range of 152.31/153.06. The underlying tone has firmed somewhat, but this is likely to lead to a higher range of 152.40/153.30 rather than a sustained advance."

1-3 WEEKS VIEW: "Last Friday (24 Oct, spot at 152.60), we indicated the following: 'Upward momentum is starting to build, but USD must close above 153.00 before a sustained rise can be expected. The odds of USD closing above 153.00 will remain intact as long as 151.50 (‘strong support’ level) is not breached. Looking ahead, a clear break above 153.00 will increase the likelihood of USD rising above the high seen earlier this month, near 153.30.' USD subsequently rose to 153.06 before closing at 152.85 (+0.18%). Upward momentum continues to build, but we prefer to wait for a close above 153.00 before adopting a positive stance. On the downside, the ‘strong support’ level is now at 152.00 instead of 151.50."

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

GBP/USD remains slightly bid near 1.3300

GBP/USD now advances marginally and manages to dispute the 1.3300 region on Tuesday. Indeed, Cable regains some balance on the back of the lacklustre performance of the Greenback, all preceding the Fed’s meeting on Wednesday and the BoE’s gathering on Thursday.

EUR/USD recedes from tops, back below 1.1400

EUR/USD manages to set aside part of the recent weakness and clinches decent gains on Tuesday. Indeed, spot keeps the trade below the 1.1400 mark amid acceptable losses in the US Dollar, all following rising optimism of a US-Iran deal and steady caution prior to the FOMC gathering on Wednesday.

Gold holds above $4,000; looks to FOMC for fresh impetus amid US-Iran tensions

Gold is seen consolidating above $4,000 as traders opt to wait for the crucial FOMC decision due later this Wednesday for more cues about the Fed's future policy path. The outlook, in turn, will influence the US Dollar and provide some meaningful impetus to the non-yielding bullion. In the meantime, the risk of resumption of US-Iran hostilities continues to underpin the USD's reserve-currency status, acting as a headwind for bullion.

Australia CPI could boost Aussie if inflation arrives above 4%

The Australian Bureau of Statistics will publish the June Consumer Price Index on Wednesday at 01:30 GMT. The report is expected to show that inflation rose 4% from a year earlier, matching the May reading. The monthly CPI is foreseen at 0.2% following the -0.7% print from May. The ABS will also release the Trimmed Mean CPI, the Reserve Bank of Australia’s favorite inflation gauge.

Indian Rupee outlook: Downtrend set to persist – Just at a slower pace

The Indian Rupee just endured its most brutal six-month stretch in years, battered by a perfect storm of global shocks. From United States-India trade uncertainty to surging Oil prices and the significant outflow of Foreign Institutional Investment from the Indian stock market, every event brought nothing but pain for the Indian currency.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.