AUD/USD slumps to 0.6649, the fresh low since February 2009, after China’s PBOC announced Interest rate cut during the early Thursday. Following the largely anticipated move, the People’s Bank of China (PBOC) announced a 0.10% cut to its benchmark interest rates.
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USD/JPY holds steady around 111.30 amid a risk-on rally seen in the Asian equities. The risk barometer surged to the highest in nine months of 111.60 on Wednesday amid fading China coronavirus fears amid cautiously optimistic FOMC minutes.
Gold prices decline to $1,606 during the early Thursday. The yellow metal surged to the highest since March 2013 the previous day but failed to hold onto gains due to the overbought RSI conditions.
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