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EUR/USD closes in on 1.0500 as USD rally continues
EUR/USD came under renewed bearish pressure and fell to its lowest level since the first week of January below 1.0520 on Wednesday. The uninterrupted US Dollar rally continues to weigh on the pair as investors keep an eye political developments in the US.
GBP/USD stays on the back foot below 1.2150
GBP/USD struggles to erase its losses and trades near the multi-month low it set below 1.2150 mid-week. The persistent US Dollar (USD) strength despite a modest improvement seen in risk mood limits the pair’s rebound, while markets eye headlines on US budget negotiations.
Gold drops to multi-week lows below $1,890
Gold price extended its daily slide in the American session and touched its lowest level in six weeks below $1,890. The benchmark 10-year US Treasury bond yield holds steady near the multi-year high it set above 4.5%, making it difficult for XAU/USD to shake off the bearish pressure.
