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NZD/USD trims gains to near 0.5850 after RBNZ Orr's press conference
NZD/USD has trimmed gains to reverse near 0.5850 early Wednesday. The New Zealand Dollar found fresh buyers after the RBNZ announced 50 bps interest rate cut to 4.25%, as widely expecteed but RBNZ Governor Orr's prudent remarks check the pair's upside.
USD/JPY stays pressured below 153.00, US data eyed
USD/JPY declines to over a two-week low below 153.00 early Wednesday as Trump's tariff threats continue to drive haven flows into the Japanese Yen. However, doubts over the BoJ's ability to tighten its monetary policy further should cap the USD/JPY downside ahead of US data.
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Gold price consolidates amid mixed cues; holds comfortably above $2,600
Gold price struggles to capitalize on the overnight bounce from the $2,600 neighborhood or over a one-week low and trades with a mild negative bias on Wednesday. The prevalent risk-on environment, expectations for a less dovish Fed, elevated US bond yields and the underlying bullish sentiment surrounding the USD act as a headwind for the commodity.
Bitcoin remains short of $100K as long-term holders capitalize on recent price rise
Bitcoin (BTC) trades below $95K on Tuesday following increased selling pressure among long-term holders (LTH) after a series of new all-time highs (ATH).
Ripple's XRP could face decline as percentage of supply in profit reaches very high levels
Ripple's XRP is down 6% on Tuesday following record profit-taking among investors as its percentage of total supply in profit reached very high levels in the past week. This follows Ripple Labs donating another $25 million to the pro-crypto Fairshake super PAC.