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USD/JPY is off the highs, trading near 158.50 in Asian trades on Wednesday. The US Dollar bulls take a breather while the Japanese Yen picks up bid, as markets turn cautious. Fed Waller's speech and US housing data are awaited.
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Gold price continues to attract buyers amid growing September Fed rate cut bets. Tuesday’s upbeat US Retail Sales data underpins the USD and caps the XAU/USD. The risk-on mood further warrants caution before positioning for additional gains.
Dogecoin's recent lag provides opportunity for investors to ride potential 40% rally
Dogecoin is up 1% on Tuesday, as a recent analysis shows that its price is following similar patterns to top cryptocurrencies like Bitcoin, Ethereum, and Solana. While the move has seen DOGE show lesser volatility compared to previous cycles, the meme coin could be set to resume its sharp movements with a potential 41% rally.
UK CPI set to hold steady at the BoE’s 2% target in June
United Kingdom’s CPI report will be published by the Office for National Statistics on Wednesday. The annual UK headline and core inflation are expected to hold steady in June. The UK CPI data could revive BoE August interest rate cut bets, rocking the Pound Sterling.