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EUR/USD holds the lower ground below 1.1900 amid broad-based US dollar rebound. The dollar benefits from covid woes, ignores Treasury yields pullback. US GDP backs Fed’s resistance to discuss tapering. A busy docket ahead, with focus on Eurozone GDP and US PCE inflation.
GBP/USD pauses the advance and retreats towards 1.3850 ahead of the London open. The US dollar rebounds toward 92.00 after hitting a one-month low. Sterling remains underpinned on hopes that the BOE could be less dovish further due to a steady decline in the UK’s covid cases.
Gold prices edge lower on Friday, after testing a two-week high near $1840 on Thursday. The prices were gained for the third straight session on weaker US Dollar and signal by the US Fed that taper could be delayed as there is still a long way to substantial progress.
XRP price rebound has taken on an impulsive tone, lifting the cross-border remittances token near the convergence of the 200-day SMA with the longstanding inverse head-and-shoulders neckline around $0.775. Ripple falls short of triggering a double bottom pattern.
Inflation is rampant. Consumers, politicians, and economists have noticed. Even the Federal Reserve has concerns, though not enough to modify the easy money policy that is abetting the increases.