Pound Sterling advances against US Dollar as investors trim Trump trades
The Pound Sterling (GBP) refreshes a two-week high near 1.2750 against the US Dollar (USD) in Friday’s European session. The GBP/USD pair strengthens as the US Dollar extends this week’s decline in a thin volume trading day due to the Thanksgiving holidays. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, corrects further and posts a fresh more than two-week low near 105.60.
The US Dollar is on course to end the week with a near 1.5% decline. The correction in the US Dollar started on Monday after United States (US) President-elect Donald Trump nominated seasoned hedge fund manager Scott Bessent to fill the position of Treasury Secretary. Read more...
GBP/USD Forecast: Pound Sterling rises above key level, attracts bulls
After posting small gains on Thursday, GBP/USD gathered bullish momentum and climbed to its highest level in over two weeks at 1.2750 early Friday.
Following the Thanksgiving Day holiday in the US, the US Dollar (USD) came under renewed selling pressure amid a positive shift seen in risk mood in the Asian session and helped GBP/USD gain traction. Additionally, US Treasury bond yields continued to stretch lower, making it difficult for the USD to find a foothold. Read more...
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EUR/USD holds near 1.0550 after Eurozone inflation data
EUR/USD trades marginally higher on the day at around 1.0550 in the European session. The data from the Eurozone showed that the annual HICP inflation rose to 2.3% in November from 2% in October, as expected. Financial markets in the US will close early on Friday.
GBP/USD loses traction, retreats below 1.2700
After climbing to its highest level in over two weeks at 1.2750, GBP/USD reverses direction and declines to the 1.2700 area on Friday. In the absence of fundamental drivers, investors refrain from taking large positions. Nevertheless, the pair looks to snap an eight-week losing streak.
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Gold eases from weekly highs but holds moderate gains above $2,650 on Friday. XAU/USD builds on this week's goodish rebound from the $2,600 neighborhood. US President-elect Trump's tariff plans, Russia-Ukraine geopolitical risks and dovish Fed bets power the bright metal.
Bitcoin attempts for the $100K mark
Bitcoin (BTC) price extends its recovery and nears the $100K mark on Friday after facing a healthy correction this week. Ethereum (ETH) and Ripple (XRP) closed above their key resistance levels, indicating a rally in the upcoming days.
Eurozone PMI sounds the alarm about growth once more
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