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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 retreats after reaching a three-week high above 1.3430, challenging the 1.3400 yardstick on Thursday. Although easing political uncertainty in the UK helps the quid limit its downside, escalating tensions in the Middle East support the Greenback, keeping Cable under scrutiny.
The EUR/USD pair posts modest gains around 1.1430 during the early Asian session on Friday, bolstered by a softer US Dollar. The European Central Bank is grappling with elevated core inflation, forcing traders to price in more aggressive tightening despite mixed guidance from ECB officials.
Gold struggles to capitalize on the previous day's positive move, though it holds above $4,100 during the Asian session on Friday as traders await further developments surrounding the US-Iran saga. The geopolitical risk premium resurfaced amid a fresh escalation of tensions between the US and Iran, which supports the safe-haven US Dollar and acts as a headwind for the bullion. However, less hawkish FOMC Minutes keep USD bulls on the defensive and help limit downside for the non-yielding yellow metal.
Central banks have spent years telling markets what might come next. Now, traders face the possibility that they say a lot less. From the Federal Reserve to the European Central Bank and the Bank of England, policymakers are pushing back against forward guidance.
