EUR/GBP recovers its recent losses registered in the previous session, trading around 0.8410 during the Asian hours on Friday. The currency cross advances as the Euro (EUR) attracts buying support following Germany’s Gross Domestic Product (GDP) data for the first quarter, released by Destatis.
Improving upward momentum indicates EUR/USD could maintain its upward bias; it is premature to expect a retest of the 1.1573 high, UOB Group's FX analyst Quek Ser Leang reports.
AUD/JPY remains steady and is holding ground near 92.80 during the Asian trading hours on Wednesday. The currency cross depreciated by more than 0.50% in the previous session following the interest rate cuts from the Reserve Bank of Australia (RBA) and the People’s Bank of China (PBoC).