EURUSD and GBPUSD hit 2026 lows, USDJPY consolidates near highs

The US dollar continued its broad rally on Wednesday, driving EURUSD and GBPUSD to fresh lows for 2026. USDJPY, meanwhile, held near its recent highs as the pair consolidated after a strong run. The moves come as traders digest a mixed European session that saw German business sentiment improve for a second straight month.

The dollar's strength has been a dominant theme this week, with the greenback gaining against all major currencies. The New Zealand dollar was the weakest, falling 0.49%, followed by the euro and pound, both down around 0.30%. EURUSD slipped below key support levels, while GBPUSD also broke lower, reflecting broad-based USD demand. The rally is partly driven by expectations that the Federal Reserve will maintain higher rates for longer compared to other central banks, widening rate differentials in favor of the dollar. For traders tracking these moves, NowPrice provides real-time quotes on all major forex pairs, allowing you to monitor the latest levels as the session progresses.

Looking ahead, the focus shifts to upcoming US data releases, including durable goods orders and the final GDP print, which could provide further direction. Any signs of a resilient US economy would likely reinforce the dollar's bid, while weaker data might trigger a corrective pullback. On the technical side, EURUSD is approaching a key support zone around 1.05, and a break below could open the door to further losses. GBPUSD is testing similar levels near 1.22. USDJPY, meanwhile, remains capped near 160.00, a level that has historically prompted intervention warnings from Japanese officials. Traders should watch for any verbal intervention or data surprises that could shift the momentum.