On Monday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1066 as compared to Friday's fix of 7.1056 and 7.2579 Reuters estimates.
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FXStreet
Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.
GBP/USD stretches north and trades at its highest level since mid-May above 1.3550 in the second half of the day on Monday. Easing expectations for a Federal Reserve policy tightening step in September hurts the US Dollar and allows the pair to preserve its bullish momentum ahead of this week's key UK inflation data.
EUR/USD edges lower but stays in positive territory near 1.1600 after setting a fresh two-month high above 1.1610 earlier in the day. The US Dollar struggles to find demand and helps the pair hold its ground as investors scale back bets for a Federal Reserve interest rate hike in September following the previous weeks disappointing macroeconomic data releases from the US.
Gold maintains its bullish tone through the first half of the European session and currently trades around $4,400, up for the second straight day. The commodity, however, remains below the highest level since June 5, touched last Thursday, amid a mixed fundamental backdrop.
Bitcoin (BTC) trades slightly higher around $63,500 on Monday, following a slight correction the previous week, supported by improving risk sentiment and despite mild outflows from institutional demand.
A large majority of economists expect the Federal Reserve (Fed) to keep interest rates unchanged in September and for the rest of this year, according to a Reuters poll conducted between August 12 and 17.
