US Pre Market Open: Entries hit for EUR/CHF and AUD/NZD, no entry for AUD/USD, EUR/USD

EUR/USD eases toward the 1.1700 mark in Europe trading on Friday. The pair faces headwinds from a renewed uptick in the US Dollar as investors look past softer US inflation data. However, the EUR/USD downside appears capped by expectations of the Fed-ECB monetary policy divergence. 

USD/JPY rises further toward the 157.00 level in the European session on Friday. The Japanese Yen remains under intense selling pressure as BoJ Governor Ueda sounded cautious on future rate hikes, while the US Dollar clings to recovery gains, allowing the pair to hold its ground.

Gold holds the previous day's late pullback from the vicinity of the record high and stays in the red below $4,350 in the European session on Friday. The US CPI report released on Thursday pointed to cooling inflationary pressures, but the US Dollar seems resilient amid a fresh bout of short-covering.

Bitcoin, Ethereum, and Ripple are extending their correction phases after losing nearly 3%, 8%, and 10%, respectively, through Friday. The pullback phase is further strengthened as the upcoming Bank of Japan’s rate decision on Friday weighs on risk sentiment, with BTC breaking key support, ETH deepening weekly losses, and XRP sliding to multi-month lows.

The Bank of England has cut rates to 3.75%, but the decision was more hawkish than expected, leaving market rates higher and sterling slightly stronger. It's a close call whether the Bank cuts again in February or March.

The US Dollar (USD) manages to hold its ground early Friday and the Japanese Yen (JPY) stays resilient against its rivals following the Bank of Japan's (BoJ) decision to raise the policy by 25 basis-points (bps) to 0.75%.