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EUR/USD drops below 1.0450 as USD gathers strength
EUR/USD stays on the back foot and trades below 1.0450 on Wednesday. The cautious market stance helps the US Dollar (USD) stay resilient against its rivals and weighs on the pair as markets wait for the Federal Reserve to publish the minutes of the January policy meeting.

Gold climbs to new all-time high near $2,950
Gold retreats slightly from the all-time high it touched at $2,947 but manages to stay above $2,930 on Wednesday. The benchmark 10-year US Treasury bond yield clings to modest gains above 4.55%, limiting XAU/USD's upside.
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Editors’ Picks

GBP/USD retreats below 1.2600 despite strong UK inflation data
GBP/USD struggles to hold its ground and trades in the red below 1.2600 on Wednesday. Earlier in the day, the data from the UK showed that the annual CPI inflation climbed to 3% in January from 2.5% in December. Market focus shifts to FOMC Minutes.

Fed Minutes to offer clues on slower rate cuts outlook in 2025
The Minutes of the Fed’s January 28-29 policy meeting will be published on Wednesday. Details surrounding the discussions on the decision to keep policy settings unchanged will be scrutinized by investors.

Bitcoin volatility hits multi-month lows, raising concerns of liquidation cascades
Bitcoin price has been consolidating between $94,000 and $100,000 for two weeks. Defund exchange FTX repayments on Tuesday dipped Bitcoin towards its lower boundary of the consolidating range.