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Live: BoE kept rates unchanged at 5.25%, GBP/USD extends slump
The Bank of England left rates steady at 5.25%, as expected. The British Pound fell with the news, as two of the MPC voting members opted for a rate cut. Fears of recession diminish as BOE upwardly reviewed growth forecast. Less loosening at sight.
EUR/USD extends weekly decline, approaches 1.0700
EUR/USD grinds lower and nears 1.0700 in European trading hours. The US Dollar takes modest advantage of a mixed sentiment and the absence of relevant macroeconomic news. An uptick in government bond yields provides additional support to the Greenback.
UPCOMING CALENDAR EVENTS
Editors’ Picks
Gold stable just above $2,300 ahead of a fresh catalyst
Gold price remains little changed for a fourth consecutive day on Thursday, trading just above the $2,300 mark. The soft performance of global equities keeps the bright metal afloat as investors hope for directional clues.
Solana meme coins TREMP, BODEN rise after Donald Trump’s pro-crypto stance
Solana-based meme coins TREMP and BODEN post nearly 125% and 7% gains on Thursday. Former US President Donald Trump says his campaign will likely accept crypto donations.
Forex fundamentals unpacked: Decoding the drivers of major currency movements
This report looks at the recent performance and future outlook for the major currencies, including the US Dollar, Euro, British Pound, Japanese Yen, Swiss Franc, and Canadian Dollar.