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BOE raises key rate to 4.25% as expected, GBP/USD clings to gains – LIVE
The Bank of England hiked its policy rate by 25 basis point to 4.25% in March as expected and repeated that it will tighten the policy further if there were evidence of persistent price pressures. Following BOE's announcements, GBP/USD clings to daily gains at around 1.2300.
EUR/USD consolidates gains below 1.0900
EUR/USD has retreated modestly and gone into a consolidation phase below 1.0900 following the rally witnessed in the Asian session. Ahead of the mid-tier data releases from the US, the US Dollar stages a technical correction and makes it difficult for the pair to stretch higher.
Gold extends Fed-inspired bounce off $1,960 on softer yields
Gold price gathered bullish momentum and climbed above $1,980 early Thursday before retreating modestly. The benchmark 10-year US Treasury bond yield is up 1% on the day following Wednesday's sharp decline, limiting XAU/USD's upside for the time being.
Arbitrum's ARB token goes live, here is what to expect
The Arbitrum ARB governance token airdrop goes live marking the beginning of the Ethereum layer-2 solution’s transition into decentralization.
Markets yet to agree on whether Fed was dovish or what?
The Fed raised the rates by 25bp, as broadly priced in, but Fed Chair Jerome Powell signaled that there would be another 25bp hike on the wire before this tightening cycle ends. QT and dot plot were unchanged.