PBOC’s Lu: Central bank will continue to implement supportive policy

EUR/USD remains well bid and trades near two-day highs around 1.1750 on Thursday, undoing the modest pullback seen in the previous session. The pair is drawing support from a better risk backdrop, helped by easing EU–US trade tensions, as well as a softer US Dollar following the release of US PCE data.

GBP/USD is picking up fresh momentum and confronting two-week tops near the 1.3500 yardstick on Thursday. In doing so, Cable is brushing off Wednesday’s brief stumble and getting back on its upward track, supported by continued selling pressure on the Greenback.

Gold is extending its rally on Thursday, approaching the area of record highs near $4,880 per troy ounce as the US Dollar pulls back. The move comes even as global risk appetite improves, after President Trump reversed course on Greenland, helping to ease broader geopolitical tensions.

Bitcoin rises marginally above $90,000, but intense ETF selling pressure continues to weigh on the asset. Ethereum trades around $3,000 amid broader crypto market volatility and waning institutional interest. XRP ticks up for the second consecutive day despite subdued retail demand.

What began as a sharp escalation risk quickly turned into a de-escalation signal. Earlier this week, markets briefly priced in escalation risk after Donald J. Trump proposed a 10% tariff hike on eight NATO nations amid the Greenland dispute.

Ripple (XRP) is consolidating above $1.90, a short-term support level, at the time of writing on Thursday. This mild uptick marks two consecutive days of a strengthening technical outlook, following recent market-wide volatility.