Fed's Yellen, now answeing a round of Q&A, notes that the Fed focus is on low unemployment, ensuring that the labour market remains strong, while keeping inflation low and stable.
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AUD/USD: The hunt for 0.7000 kicks in
AUD/USD finally cleared the key 0.6800 barrier, up for the fourth session in a row on the back of the persistent downward momentum in the Greenback in the wake of the Fed’s rate cut.
EUR/USD maintains its constructive tone and targets 1.1200
EUR/USD managed to add to Wednesday’s gains and climbed to the area of weekly tops around 1.1180 following further weakness in the US Dollar as investors continued to factor in the likelihood of extra rate cuts in the next few months.
Gold maintains the upward pressure near $2,600
Following a pullback in the early American session, Gold regains its traction and trades decisively higher on the day at around $2,580. The 10-year US Treasury bond yield retreats toward 3.7%, supporting XAU/USD in the Fed aftermath.
XRP eyes gains as Ripple gears up for stablecoin launch, Grayscale XRP Trust notes rising NAV
Ripple (XRP) gained 2.3% since the start of the week. The altcoin’s gains are likely powered by key market movers that include Ripple USD (RUSD) stablecoin, Grayscale XRP Trust performance and the demand for the altcoin among institutional investors.
BoE expected to keep interest rate unchanged at 5% as price pressures persist
After a close call in August, the Bank of England’s September interest rate decision is keenly awaited for fresh cues on the bank’s future policy action and the pace of its bond sales.
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