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Editors’ Picks
GBP/USD drops below src.2750 as mood sours
GBP/USD came under modest bearish pressure and declined below src.2750 in the American session. The US Dollar benefits from the risk-averse market atmosphere, as reflected by the bearish action seen in Wall Street, and weighs on the pair heading into the weekend.
GBP/USD News
Gold retreats to $2,src60 as US yields rebound
Gold lost its traction and retreated to the $2,src60 area. Following a downward correction in the European session, the benchmark src0-year US Treasury bond yield recovered to 4.3%, making it difficult for XAU/USD to hold its ground.
Gold News
Fed doves worried
Yesterday’s mix of economic data – which pointed at higher-than-expected inflation and lower-than-expected spending in the US – finally broke the Fed doves’ and the equity bulls’ back for at least a day.
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