The Trump trade is back in full swing as the market continues to consider the impact of US tariffs and US tax cuts from the incoming administration. Meanwhile, commodities have been sliding and risk sentiment has soured, setting up an ugly start to Tuesday trade.

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USD/JPY retreats from two-week top; BoJ uncertainty could limit losses

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USD/JPY drifts lower on Thursday and snaps a three-day winning streak to a two-week high touched the previous day. The downside, however, seems limited amid diminishing odds for another BoJ rate hike next week, which, along with the risk-on mood, could undermine the safe-haven JPY. 

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Gold price retains its bullish bias near two-week high on Fed rate cut optimism

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Gold price stands firm near the $2,720-2,722 area, or over a two-week high on Thursday amid the likelihood of a Fed rate cut next week. Furthermore, geopolitical risks and trade war fears remain supportive of the bullish sentiment surrounding the safe-haven XAU/USD. 

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BTC faces setback from Microsoft’s rejection

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