BIS cave to Russia’s gold-buying pressure [Video]

The EUR/USD pair trades at fresh December highs early in the Asian session on Thursday. The Federal Reserve monetary policy announcement failed to surprise but was enough to put Wall Street on the run, leading to steady US Dollar losses.

GBP/USD gains upward traction as the USD eased following the Federal Reserve decision to trim the benchmark interest rate by 25 bps. FOMC divided, Summary of Economic Projections shows no relevant changes.

Gold prices are up after the US central bank's monetary policy announcement, trading around $4,230 as Asian traders reach their desks. A better market mood limits demand for the safe-haven metal, but broad US Dollar weakness skews the risk to the upside. 

Ethereum ETFs highlight a return of TradFi interest, pulling in $177.6 million on Tuesday, their highest inflow since October. Funding rates have remained modest despite the recovery from under $2,800.

The Federal Open Market Committee’s (FOMC) latest dot plot, released on Wednesday, indicates that interest rates will average 3.4% by the end of 2026, in line with the September projection.

Hyperliquid is trading above $28.00 at the time of writing on Wednesday, after rebounding from support at $27.50. The broader cryptocurrency market is characterised by widespread intraday losses ahead of the Fed monetary policy decision.