GBP/USD hits lowest level in over 20 years following Fed, Biden responds to Putin’s Nuclear threats [Video]

Eliman Dambell Sayvio AI

GBPUSD was trading at its lowest point in over 20 years on Wednesday, as markets reacted to the latest FOMC rate decision.

Despite some calling for a 1% hike, the Fed opted to increase rates by 75 basis points, as it continues its battle with rising consumer prices in the United States.

Ahead of the decision, market speculation had led to the greenback gaining versus several G-7 currencies, including USDJPY.

EURUSD also fell to a fresh 20-year low, with GBPUSD trading at its weakest point in over two decades.

As of writing this, XAUUAS was trading at a 2-year low.

U.S. President Biden responds to Putin’s Nuclear threats

U.S. President Joe Biden today reposended to Russian leader Vladimir Putin, as Russia prepared to mobilize 300,000 troops.

In a televised address, Putin stated that, “We are talking about partial mobilization, that is, only citizens who are currently in the reserve will be subject to conscription, and above all, those who served in the armed forces have a certain military specialty and relevant experience”.

The Russian leader was also quoted as saying, “ (The west) wants to destroy our country”.

Responding to this, Biden was quoted as saying, “No matter what else is happening in the world, the United States is ready to pursue critical arms control measures. A nuclear war cannot be won and must never be fought”.

Visit here to see raw, real-time ECN spreads

Author

Eliman Dambell

Sayvio AI

With over a decade in financial markets, Eliman brings an experienced and diversified point of view to market analysis. He covers current and historical macro trends to give insights on Metals, FX, Stocks, and Crypto.

EUR/USD remains offered near 1.1950

EUR/USD comes under pressure near the 1.1950 zone following the closing bell on Wall Street on Wednesday. The Greenback’s rebound prompted spot to face some correction while investors continue to assess the latest FOMC event. On Thursday, the focus of attention will be on the weekly US labour market data and Factory Orders.

GBP/USD hesitates at four-year highs following lackluster Fed rate hold

GBP/USD churned in place on Tuesday, hitting a brief patch of volatility but otherwise holding steady near four-year highs as the US Dollar struggles to find its footing. The Federal Reserve held interest rates steady, as many investors broadly anticipated, but the Fed’s rate statement and Fed Chair Jerome Powell both failed to give any hints about potential shifts toward future rate cuts, which many investors broadly hoped.

Gold climbs above $5,500 for the first time on record

Gold price surges to a fresh record high of $5,579 before retreating to around $5,500 in early Asian trading on Thursday. The rally of the precious metal is bolstered by strong safe-haven demand amidst persistent geopolitical tensions, economic uncertainty, and a weaker US Dollar.

Fidelity unveils FIDD stablecoin, set to launch in coming weeks

Fidelity Investments announced that it will launch its first stablecoin, the Fidelity Digital Dollar, making it one of the first large traditional firms in the US to do so. The company will leverage the Ethereum blockchain to roll out the product to retail and institutional investors in the coming weeks, according to a press release on Wednesday.

Federal Reserve pauses, sees economy on firm footing

At its January meeting, the Federal Reserve kept the Fed Funds Target Range (FFTR) unchanged at 3.50%–3.75%, a decision that was fully in line with market expectations.

Bittensor Price Forecast: TAO rallies above $240 as AI tokens rebound

Bittensor reclaims $240 immediate support, reflecting positive sentiment in the broader crypto market. The TAO derivatives market signals retail interest return as futures Open Interest climbs to $163 million.