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India FX Reserves, USD rose from previous $687.19B to $701.36B in January 12
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EUR/USD rapidly reverses course and hits fresh YTD tops near 1.1780 at the end of the week. The pair’s U-turn comes on the back of the intense sell-off in the Greenback amid the generalised risk-on context.
GBP/USD is building on its solid weekly advance and is pushing toward the 1.3530 area, or two-week highs, on the back of a modest retracement in the Greenback. In the meantime, strong UK retail sales figures and upbeat preliminary PMIs are reinforcing Cable’s gains as Friday’s session unfolds.
Gold prices surged to a fresh record near $4,970 per troy ounce earlier on Friday, keeping the door open for a potential test of the $5,000 mark sooner rather than later. Mixed price action in the US Dollar, alongside falling Treasury yields across the curve, is underpinning the precious metal’s rally into the end of the week.
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