NEWS | 08/08/2025 12:30:33 GMT
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By FXStreet Team
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Editors’ Picks
EUR/USD keeps the red near 1.1650 on modest USD recovery
EUR/USD stays in negative territory at around 1.1650 on Friday. The pair stays pressured as the US Dollar stages a rebound, possibly by position adjustments ahead of next week’s US inflation data release. Comments from Fed officials and trade headlines remain in focus.
GBP/USD extends correction, trades below 1.3450
GBP/USD corrects lower and trades below 1.3450 on Friday after posting strong gains on the Bank of England’s policy announcements on Thursday. In the absence of high-tier data releases, the cautious market mood supports the USD and makes it difficult for the pair to gain traction.
Gold consolidates below $3,400 following earlier advance
Gold stays in a consolidation phase below $3,400 after setting a new multi-week-high near $3,410. Earlier in the day, news of the US imposing tariffs on that one-kilo and 100-ounce Gold bars triggered a rally in futures prices, helping XAU/USD push higher.
Bank of England cuts rates in dramatic meeting
The Bank of England has cut rates by a further 25 basis points to 4% but the statement hints that officials think the easing cycle is nearing its end. Policymakers are visibly worried about a more persistent bout of inflation as the headline number is way higher than target.
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