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EUR/USD drops below src.0700 ahead of Powell speech
Following a quiet European morning, EUR/USD has lost its traction and dropped to its lowest level in nearly a month below src.0700. Ahead of FOMC Chairman Jerome Powell’s speech, the US Dollar preserves its strength on hawkish Fedspeak and weighs on the pair.
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Gold retreats below $src,870 as US yields rebound
Gold price erased its daily recovery gains and turned flat slightly below $src,870 heading into the American session. Following a downward correction earlier in the day, the benchmark src0-year US Treasury bond yield staged a rebound and caused XAU/USD to turn south ahead of FOMC Chairman Powell’s speech.
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