Author
FXStreet Team
FXStreet
Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
GBP/USD resumes its downside in the second half of the day on Wednesday and trades at its lowest level since November 2025 near 1.3150. The pair remains vulnerable amid a broadly firmer US Dollar and chaotic UK political environment. The focus is now on BoE-speak for further trading impetus.
EUR/USD stays under bearish pressure and trades at its lowest level in a year below 1.1350 on Wednesday. The pair remains vulnerable to further declines amid a bullish US Dollar, which continues to draw support from hawkish Fed bets and US-Iran peace deal uncertainty.
Gold remains under persistent selling pressure and trades at its lowest level since November near $4,000 on Wednesday, losing more than 2.5% on the day. Hawkish Fed pricing, broad-based US Dollar strength and the uncertainty surrounding the US-Iran peace agreement make it difficult for the precious metal to find a foothold.
Bitcoin is trading between $62,000 and $63,000 at the time of writing on Wednesday, weighed down by headwinds stemming from macroeconomic uncertainty and geopolitical tensions in the Middle East.
Keir Starmer resigned on Monday, and the Pound barely moved. That near-silence is the tell. Sterling's real driver these past four months has not been the prime minister, nor the left-leaning frontrunner lining up to replace him, but the long end of the gilt curve, which answers to a force no British politician controls.
The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.
