US Dollar on track for strongest weekly gain in a year

EUR/USD stays under modest bearish pressure and trades below 1.1600 in the second half of the day on Wednesday. Markets await the US House vote on the stopgap funding bill that will end the government shutdown. Meanwhile, investors will pay close attention to comments from Fed policymakers.

GBP/USD trades in the 1.3130 region in the American session on Wednesday. The US Dollar declines ahead of definitions about the US government shutdown. Market participants anticipate the largest shutdown in the country’s history is close to an end after the Senate agreed on a funding bill.

Gold accelerated its advance after Wall Street open, approaching the $4,200 mark in the American afternoon. The US Dollar remains pressured amid hopes of a US federal government reopening. The House of Representatives will vote on a funding bill later in the day.

Bitcoin rises in tandem with other crypto majors and is trading above $104,000 at the time of writing on Wednesday. Altcoins, including Ethereum and Ripple, are also edging higher, hovering above $3,400 and $2.40, respectively.

As we move through the European trading session on Wednesday, there is residual optimism in the market that continues to boost risk sentiment. European indices are having another strong day, although the FTSE 100 is bucking this trend and is posting a small loss.

Sui (SUI) is rising in tandem with the cryptocurrency market, trading above $2.00 at the time of writing on Wednesday. The bullish wave behind Sui's 3.5% increase followed a correction that erased gains from $2.20 to $1.98 the previous day.