EUR/USD, GBP/USD, USD/JPY flat as tariff concerns dominate trading
Major currency pairs trade sideways in early Asian session with EUR/USD at 1.0825 (-0.05%), GBP/USD at 1.2450 (-0.02%), and USD/JPY at 155.20 (+0.01%). Markets remain cautious amid ongoing tariff discussions between the US and major trading partners, creating uncertainty about global trade flows. The dollar index hovers near 105.40 as traders await clearer policy direction. European currencies show resilience despite trade tensions, supported by steady economic data from the eurozone. Technical analysis reveals EUR/USD trapped between 1.0800 support and 1.0850 resistance, while GBP/USD tests 1.2430 support. USD/JPY maintains its range-bound pattern between 154.80-155.50. With no major economic releases scheduled, sentiment remains driven by geopolitical headlines. Traders should watch for any concrete tariff announcements that could trigger breakouts from current ranges.
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