BoJ’s Uchida: Will keep raising rates if economy, prices improve in line with our forecast

EUR/USD sets aside part of the recent sharp sell-off, gathering fresh steam on the back of the intense downward bias in the US Dollar. The Greenback’s marked pullback comes on the back of renewed concerns over the Fed’s independence, all ahead of Tuesday’s key US CPI data release.

GBP/USD kicks off the week on a firmer note, retracing part of its recent pullback and turning its attention back to the key 1.3500 level. The pair is being supported by renewed weakness in the Greenback, after fresh criticism from the US administration directed at Fed Chair Powell revived concerns about the Federal Reserve’s independence.

Gold price jumps to near $4,600 during the early Asian session on Tuesday. The precious metal extends the rally after retreating from a fresh record high of $4,630 in the previous session amid uncertainty and geopolitical risks. The US Consumer Price Index inflation data for December will take center stage later on Tuesday.

Bitcoin treasury and financial intelligence company Strategy stepped up its accumulation of the top crypto last week after it purchased 13,627 BTC for $1.25 billion, its largest buy since last July.

Federal investigation of Powell and the Fed knocks risk sentiment. Concerns grow about Fed independence as gold hits a record. Are markets expecting Trump to scale back his rhetoric?

Monero hit a new all-time high of $598 on Monday as interest in privacy-focused coins grows. Retail traders lean into risk as XMR’s derivatives market strengthens, with futures Open Interest swelling to $177 million.