The US Dollar (USD) holds marginal losses against the Japanese Yen (JPY) at Thursday’s European session opening, and approaches the 162.00 area at the time of writing. Recent price action shows a sequence of lower highs and higher lows, forming a triangle pattern.

The GBP/USD pair trades with mild losses around 1.3535 during the early European trading hours on Thursday.

The EUR/USD advances some 0.41% on Wednesday, trading at 1.1466 after US inflation data was softer than expected, weighing on the Greenback, as market participants expect a less hawkish Federal Reserve. Towards the end of the year.

The US Dollar Index (DXY) falls 0.5% toward 100.40 as softer-than-expected United States (US) wholesale inflation reinforces signs that price pressure is easing. The headline Produce Price Index (PPI) declined 0.3% MoM in June, while the annual rate slowed to 5.5%, below the 6.2% forecast.

The New Zealand Dollar (NZD) clings to Tuesday’s gains around 0.5820 during the European trading session on Wednesday. The Kiwi pair reflects strength in a risk-on market environment, driven by easing fears of Federal Reserve (Fed) interest rate hikes this year.

Gold (XAU/USD) edges lower on “inside trading” on Wednesday, with price action contained within Tuesday’s range, as the pair keeps looking for direction above the $4,000 level.

Silver price (XAG/USD) is down 0.6% to near $58.00 during the European trading session on Wednesday.

The British Pound (GBP) is up 0.1% at around 1.3403 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair gains as the US Dollar comes under selling pressure, with market participants dialing down expectations for Federal Reserve (Fed) interest rate hikes.

Here is what you need to know on Wednesday, July 15:

The USD/JPY pair trades slightly lower at around 162.20 during the European trading session on Wednesday. The pair edges down as the US Dollar (USD) underperforms due to easing fears of interest rate hikes by the Federal Reserve (Fed) this year.