The Canadian Dollar (CAD) is trading higher against the US Dollar (USD) in the American session on Friday, with the Loonie erasing gains from earlier sessions.

GBP/USD tumbled over 0.40% on Friday as geopolitical tensions triggered a flow towards the Dollar haven status after Israel launched an attack on Iran, which escalated the Middle East conflict. The pair traded near 1.3550s after hitting a yearly peak of 1.3631.

The Euro (EUR) is weak, down 0.6% and fully retracing Thursday’s ECB (and US PPI)-driven rally, fading back to the psychologically important 1.15 level.

The Canadian Dollar (CAD) is trading marginally lower vs. the US Dollar (USD) while performing well against most of the G10 currencies, its performance insulated by the Canadian dollar’s relationship to oil prices, Scotiabank's Chief FX Strategist Shaun Osborne notes.

Strong momentum could outweigh oversold conditions, but any further decline in US Dollar (USD) may not reach 142.20 today.

New Zealand Dollar (NZD) could weaken further against US Dollar (USD), but it is unlikely to reach 0.5970; note that there is another support level at 0.5995.

There is scope for Australian Dollar (AUD) to decline to 0.6460 against US Dollar (USD); the major support at 0.6430 is unlikely to come under threat.

Pound Sterling (GBP) is likely to trade in a range of 1.3540/1.3640. In the longer run, GBP must first close above 1.3640 before a move to 1.3700 can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The AUD/JPY pair claws back a majority of early losses and rebounds from the intraday low of 92.32 during European trading hours on Friday. Still, the pair is down 0.5% to near 93.30.

Pound Sterling (GBP) had a choppy session overnight. Pair was last at 1.3533 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

The USD/JPY pair climbs to near 144.00 during European trading hours on Friday after recovering early losses. The pair strengthens as the US Dollar (USD) outperforms across the board amid growing war tensions between Israel and Iran.

Euro (EUR) traded an overnight high of 1.1631 before erasing gains on heightened geopolitical tensions. Pair was last at 1.1520 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

The US Dollar rallied on early trade on Friday, boosted by the risk-averse reaction to Israel’s attack on Iran, but was capped at 1.3660 before returning to levels close to 1.3600 as the escalating Oil prices have pushed the Canadian Dollar higher.Crude prices have surged on concerns that escalating

The Euro (EUR) generally dislikes geopolitical shocks leading to higher energy prices, and has therefore detached from JPY and CHF in early price action after the Israeli strike on Iran.

Eurozone Trade Balance s.a. fell from previous €27.9B to €14B in April

Eurozone Industrial Production s.a. (MoM) below forecasts (-1.7%) in April: Actual (-2.4%)

Eurozone Industrial Production w.d.a. (YoY) below expectations (1.4%) in April: Actual (0.8%)

Eurozone Trade Balance n.s.a. below expectations (€18.2B) in April: Actual (€9.9B)

The Australian Dollar is trimming some losses following a sharp decline earlier today as news that Israel bombed Iranian nuclear and military sites triggered a rush for safety, sending risk-sensitive assets, like the AUD, tumbling.The AUD/USD depreciated nearly 1% during Friday’s early trading to hi

The NZD/USD pair is down almost 0.1% to near the psychological support of 0.6000 on Friday. The kiwi pair faces a sharp sell-off as antipodean currencies underperform amid escalating tensions between Israel and Iran.

The EUR/GBP cross trades in positive territory for the fifth consecutive day near 0.8525 during the early European session on Friday. A slew of weaker-than-expected UK economic data continues to undermine the Pound Sterling (GBP) against the Euro (EUR).

The US Dollar is trimming losses after a sharp decline on Thursday.

Here is what you need to know on Friday, June 13:

The EUR/USD pair snaps a four-day rally on Friday, retreating from nearly four-year highs above 1.1600 to the lower range of the 1.1500s.

The Pound Sterling (GBP) underperforms against its major peers on Friday, except for antipodean currencies, as market sentiment turns risk-averse amid escalating geopolitical tensions in the Middle East. 

France Consumer Price Index (EU norm) (MoM) meets forecasts (-0.2%) in May

France Consumer Price Index (EU norm) (YoY) in line with expectations (0.6%) in May

Germany Consumer Price Index (MoM) in line with expectations (0.1%) in May

Germany Harmonized Index of Consumer Prices (YoY) meets expectations (2.1%) in May

Germany Harmonized Index of Consumer Prices (MoM) meets forecasts (0.2%) in May