AUD/MYR Exchange rate

EUR/USD trades deep in the red below 1.0550 on Wednesday. The US Dollar benefits from rising US Treasury bond yields and the cautious market mood, forcing the pair to stay on the back foot. Several Federal Reserve policymakers will be delivering speeches later in the day.

GBP/USD loses its traction and retreats toward 1.2650 on Wednesday. Although the stronger-than-expected inflation data from the UK helped Pound Sterling gather strength earlier in the day, the risk-averse market atmosphere caused the pair to reverse its direction.

Following a pullback during the European trading hours, Gold regains its traction and climbs toward $2,650. Escalating geopolitical tensions help XAU/USD stretch higher, while rising US Treasury bond yields limit the pair's upside.

Bitcoin has outperformed Ethereum in the past two years, setting new highs while the top altcoin struggles to catch up with speed. Several experts exclusively revealed to FXStreet that Ethereum needs global recognition, a stronger narrative and increased on-chain activity for the tide to shift in its favor.

Services inflation is set to bounce around 5% into the winter, while headline CPI could get close to 3% in January. That reduces the chance of a rate cut in December, but in the spring, we think there is still a good chance the Bank of England will accelerate its easing cycle.