FX markets show minimal movement as traders await clarity on Middle East developments, with NZDUSD the sole outlier after a rate hike.
The USD remains nearly flat against major currencies at the start of North American trading, with EURUSD, USDJPY, and GBPUSD showing marginal changes. EURUSD rose 0.11% to 1.1427, USDJPY dipped 0.07% to 162.46, and GBPUSD edged up 0.03% to 1.3390. The lack of volatility reflects uncertainty over escalating Middle East conflicts, including U.S. strikes on Iran targeting military capabilities near the Strait of Hormuz.
Technical analysis suggests a cautious bias for the three major pairs, with defined risk levels and targets. NZDUSD stands out, climbing 0.60% to 0.5733 after Wednesday’s rate hike, breaking above last Friday’s high and eyeing a move toward 0.5744. Other pairs, including USDCHF and AUDUSD, show minimal fluctuations, with changes under 0.1%.
Iran’s Health Ministry reported 14 fatalities and 78 injuries from recent strikes, adding to geopolitical tensions. FX traders remain on edge as the situation evolves, with limited directional conviction in the near term.