NEWS | 05/08/2025 06:01:09 GMT
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By FXStreet Team
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Editors’ Picks
GBP/USD loses the grip and slips back to 1.3240
GBP/USD retreats to multi-day lows near 1.3240 on Thursday, as renewed US dollar strength weighs on broader risk sentiment. Cable has initially found support after the BoE delivered a widely expected 25 basis point rate cut and US President Donald Trump unveiled a new trade agreement with the UK.
EUR/USD drops to four-week lows near 1.1230
EUR/USD deepened its decline on Thursday, falling to the 1.1230 area—its lowest level in several weeks—as demand for the US dollar continued to build. The greenback was buoyed by stronger-than-expected labour market data, a cautious tone from the Federal Reserve, and renewed optimism over a UK-US trade deal.
Gold retests daily lows near $3,320 on USD buying
The selling pressure around Gold now picks up pace, dragging the precious metal to the lower end of the daily range in the $3,330-$3,320 band per troy ounce on the back of the intense upside momentum around the US Dollar as well as higher US yields across the board.
FOMC’s holding pattern continues
As universally expected, the Federal Open Market Committee (FOMC) decided at the conclusion of its meeting today to keep the target range for the federal funds rate unchanged at 4.25%-4.50%.
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