GBP/USD marches towards 1.24. However, economists at ING expect the pair to break under 1.2330 in a move back to the 1.22 lows.EUR/GBP to continue to trade in a very wide 0.84-0.86 range
“Expect EUR/GBP to continue to trade in a very wide 0.8400-0.8600 range.” “Cable looks one-way traffic. We have seen the bear market bounce to 1.2500 this week and the difficult external environment would favour a break of 1.2330 support in a move back to the 1.22 lows.”
EUR/USD extends rally toward 1.0600 as dollar selloff continues
EUR/USD has preserved its bullish momentum in the second half of the day on Thursday and touched its highest level in more than a week above 1.0580. Pressured by falling US Treasury bond yields, the US Dollar Index is down 1% on the day below 103.00, fueling the pair’s rally.
GBP/USD renews two-week highs, trades above 1.2500
GBP/USD has gained traction and climbed to its strongest level in two weeks above 1.2500. The weaker-than-expected macroeconomic data releases and falling US yields cause the dollar to stay under constant selling pressure, helping the pair push higher.
Gold rises above $1,840 as US yields push lower
Gold preserves its bullish momentum on Thursday and trades at a fresh weekly high above $1,840. The benchmark 10-year US Treasury bond yield is down more than 3% amid risk aversion, providing a boost to XAU/USD in the American session.
Crypto bloodbath hasn’t even started yet
Bitcoin price, Ethereum and other cryptocurrencies are on the backfoot after the massive slaughter that happened on the trading floor on Wall Street yesterday.