GBP/USD witnessed some selling for the second successive day amid sustained USD strength.The worsening Ukraine crisis weighed on the sentiment and benefitted the safe-haven USD.The GBP/USD pair dropped to a fresh daily low during the first half of the European session, with bears now awaiting sustained weakness below the 1.3300 round-figure mark.
The pair extended the overnight retracement slide from levels just above the 1.3400 mark and witnessed some selling for the second successive day on Friday. The downfall dragged the GBP/USD pair back closer to the lower end of its weekly trading range and was sponsored by resurgent US dollar demand, bolstered by the global flight to safety.
EUR/USD plunges to lowest level since May 2020 below 1.1000.The shared currency remained under constant selling pressure on Friday and the EUR/USD dropped below 1.1000 for the first time since May 2020. The risk-averse market environment is providing a boost to the dollar as markets await the US February jobs report and fresh headlines surrounding the Russia-Ukraine conflict.
EUR/USD News .GBP/USD falls below 1.3300 as dollar continues to gather strength.With the greenback capitalizing on safe-haven flows on the week, the GBP/USD pair remains on the back foot and trades below 1.3300. Escalating Russia-Ukraine tensions force investors to stay away from risk-sensitive assets ahead of the US NFP data.
GBP/USD News .Gold climbs higher toward $1,950 as flight-to-safety continues.Gold climbs higher toward $1,950 as flight-to-safety continues.Gold continues to push higher during the European trading hours and closes in on $1,950 with the yellow metal attracting investors as a safe haven. Meanwhile, the 10-year US Treasury bond yield is down more than 3%, providing an additional boost to XAU/USD.
Gold News .BTC bull run to flourish unhinged beyond $52,000.Bitcoin price is hovering between a weekly supply and a daily demand zone, leading to a bracketed movement. The recent run-up fell short of retesting the upper boundary and is currently correcting to find a stable support level.