The Australian Dollar underperforms its major currency peers, except the New Zealand Dollar (NZD), on Thursday. Against the US Dollar (USD), the antipodean is down 0.4% to near the psychological level of 0.7000.

Silver (XAG/USD) has resumed its broader bearish trend on Thursday, to reach session lows below $56.00 after an impulsive reversal from the $58.00 area.

The EUR/USD pair trades in positive territory near 1.1245 during the early European trading hours on Thursday. Nonetheless, the potential upside might be limited amid fiscal concerns in France. European Central Bank (ECB) policymaker Fabio Panetta is scheduled to speak later on Thursday.

EUR/JPY loses ground for the second successive day, trading around 177.50 during Asian hours on Thursday. Technical analysis of the daily chart shows the currency cross remains within a descending channel pattern, suggesting an ongoing bearish bias.

The US Dollar (USD) has navigated an inconclusive range, struggling to reverse the weekly correction, while market participants continued to assess developments from the geopolitical landscape, all amid a steady pre-Fed lull.

The British Pound (GBP) extends gains against the US Dollar (USD) on Wednesday after some hesitation in the early European session, as the positive impact from the hot consumer inflation figures was offset by the increment in public borrowing.

Antje Praefcke at Commerzbank highlights that political and rating risks in France, plus cautious European Central Bank (ECB) expectations, weigh on the Euro (EUR) but are largely priced in. Markets now see an ECB hike in December and more tightening next year, which may be revised lower.

Crude prices are reversing earlier losses on Wednesday, buoyed by rising concerns about supply disruptions as attacks in the Strait of Hormuz increase and Saudi Arabian Oilfields remain under threat.

EUR/JPY halts its four-day winning streak, trading around 177.70 during Asian hours on Tuesday. Technical analysis of the daily chart shows the currency cross remains within a descending channel pattern, suggesting an ongoing bearish bias.