NEWS | 08/07/2025 13:00:41 GMT
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By FXStreet Team
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Editors’ Picks
GBP/USD climbs above 1.3400 as BoE cuts by slim majority
GBP/USD keeps its march north unabated on Thursday, this time trespassing the 1.3400 yardstick as investors continue to assess the BoE event. The central bank lowered the policy rate by 25 basis points, but the vote split revealed that four officials advocated keeping rates constant, supporting the Sterling.
EUR/USD remains offered near 1.1650
EUR/USD trades on the back foot on Thursday, losing some momentum soon after hitting tops near the 1.1700. The pair’s daily decline comes on the back of humble gains in the US Dollar, while the intense demand for the British pound in the wake of the BoE meeting keeps the single currency under pressure via the pronounced drop in EUR/GBP.
Gold remains bid and flirts with $3,400
Gold resumes its uptrend on Thursday coming at shouting distance from the key $3,400 mark per troy ounce. While markets remain cautious after US President Trump’s tariff threats, rising expectations for a Russia-Ukraine peace treaty appear to be capping the metal’s upside potential.
BTC consolidates as Trump tariffs go into effect
Bitcoin price has been consolidating below the $116,000 resistance level so far this week, indicating indecisiveness among traders. Trump’s sweeping tariffs take effect, while new trade-related announcements could potentially inject fresh volatility.
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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