Asian Session Summary

The dollar limped into Friday’s Asian session and never found a bid. DXY slipped to 100.8, down 0.15% on the day, as sellers leaned on the greenback across every G10 cross. The yen was the primary beneficiary — USD/JPY dropped over half a percent to 161.68, pulling away from session highs near 162.43. The Swiss franc tracked the same safe-haven flow, with USD/CHF pressing below 0.806.

Commodity markets sent mixed signals. WTI crude fell 0.8% to $71.50 as US-Iran de-escalation headlines took heat out of the geopolitical premium. Copper bucked the trend, rising 1.13% — a divergence that kept AUD and NZD supported. Gold drifted lower to $4,115, caught between Fed hike expectations and residual haven demand.

Key Pairs for London

NZD/USD — 0.5771 (+0.97%)
The standout mover. Kiwi ripped nearly a full percent through the Asian session, tagging 0.5793 before easing slightly. The copper bid likely helped, but the magnitude of the move suggests positioning washout or flow-driven momentum. Resistance sits at the session high of 0.5793. A London break above that level opens the door toward 0.5800. Support at 0.5756.

USD/JPY — 161.68 (-0.53%)
Yen strength was the dominant Asian theme. The pair fell from 162.43 to 161.28 before stabilising. End-of-week profit-taking on long USD/JPY positions is a plausible driver ahead of weekend risk. The 161.28 low is the level to watch — a break below puts 161.00 in play. Topside capped near 162.00.

GBP/USD — 1.3421 (+0.19%)
Cable continues to grind higher, pressing toward 1.3452 session highs. UOB flagged upside risk toward resistance, and the EUR/GBP cross pinned near one-year lows confirms sterling’s relative strength. The 1.3450-1.3460 zone is immediate resistance. A clean break targets 1.3500. Support at 1.3400.

EUR/USD — 1.1442 (+0.17%)
The euro gained against the dollar but underperformed sterling — EUR/GBP slipping 0.04% reinforces that this is a USD-weakness story, not euro strength. The pair is holding above 1.1430 support with the session high at 1.1464 as the barrier. Moderating Euro Area inflation data keeps the ECB-cut narrative alive and limits the euro’s ability to lead.

AUD/JPY — 112.29 (-0.40%)
A clean risk-sentiment barometer heading into London. Despite AUD/USD holding gains, the cross dropped on yen strength. If London risk appetite improves, 112.74 (session high) is the recovery target. Sustained weakness below 112.23 would signal broader de-risking.

London Calendar Watch

Friday London sessions tend to run lighter on tier-one data. UK GDP and industrial production figures are the scheduled releases worth monitoring if they land this morning — any upside surprise would reinforce the sterling bid already visible in the price action. Beyond hard data, watch for ECB commentary. With Euro Area inflation moderating, any dovish lean from Governing Council members could pressure EUR/GBP further toward new lows. The oil complex may also react to further US-Iran headlines as European desks pick up the story.

Bias Going In

EUR/USD bias is modestly constructive on USD weakness, but the euro’s inability to outperform sterling caps enthusiasm — this is a “sell the dollar” setup more than a “buy the euro” trade. GBP/USD looks firmer, with the 1.3450 level the test for London. Among commodity-linked pairs, NZD/USD momentum is real but extended after a near-1% Asia move — fading into 0.5800 is tempting, though a break through changes the character entirely. The DXY tone is soft heading into the weekend, and unless a headline shock reverses the flow, the path of least resistance for the dollar remains lower.

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