USD/SEK Exchange rate

GBP/USD holds the latest uptick near 1.2700 in the European session on Wednesday. The data from the UK showed that the annual inflation, as measured by the change in the CPI, rose to 2.3% in October from 1.7% in September, supporting Pound Sterling.

EUR/USD remains depressed below 1.0600 in European trading on Wednesday. The US Dollar advances, tracking US Treasury bond yields higher even though risk appetite returns on fading Russia-Ukraine geopolitical tensions. Central banks' speeches are eyed for fresh impetus.  

Gold price retreats after touching a one-and-half-week top earlier this Wednesday and drops to a fresh daily low, below the $2,630 level heading into the European session. A goodish pickup in the US Treasury bond yields, bolstered by bets for a less aggressive policy easing by the Fed, revives the USD demand and undermines demand for the non-yielding yellow metal. 

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.

Bitcoin remained upbeat above $91,000 on Tuesday, with Trump’s cabinet appointments in focus and after MicroStrategy purchases being more tokens.