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Gold prices rise as US Dollar tumbles after Powell’s speech
Gold prices jump over 1% after Fed Chair Powell hints at upcoming rate cuts, expressing confidence in inflation nearing the 2% target. The US Dollar Index (DXY) falls 0.82% to…
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BofA: The US dollar has rallied ahead of 10 of the past 13 elections
Bank of America highlights that historically, the US Dollar Index (DXY) tends to rise from August through US election day in November, suggesting potential USD strength leading into the upcoming…
Clings to gains, struggles near 1.3100
GBP/USD hovers below 1.3100, with price action suggesting buyer caution amid Fed rate cut uncertainty. A break above 1.3100 could target the YTD high of 1.3130, with further gains towards…
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Pound approaches the 2023 high in fifth straight day of gains
We're getting the point where we need to really zoom out to paint a picture of the foreign exchange market. A great example is in cable, where the daily chart…