Comments from RBA’s Lowe on the exchange rate and FX markets are crossing the wires –
Author
Omkar Godbole
FXStreet Contributor
Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.
The EUR/USD pair extends the previous day's late pullback from the 1.1835 region and attracts some follow-through selling during the Asian session on Tuesday. Spot prices currently trade around the 1.1775-1.1770 area, down nearly 0.15% for the day amid a modest US Dollar strength.
GBP/USD edges lower after two days of gains, trading around 1.3480 during the Asian hours on Tuesday. The pair declines as the US Dollar rebounds from losses recorded over the previous two sessions. Traders will focus on the US ADP Employment Change four-week average later in the day, along with speeches from Federal Reserve officials.
Gold sticks to modest intraday losses below the monthly peak touched earlier this Tuesday, though it lacks follow-through selling and holds above the $5,150 level heading into the European session. Following the previous day's knee-jerk fall in reaction to US President Donald Trump's new global tariffs and the subsequent bounce, the US Dollar attracts fresh buyers in the wake of the US Federal Reserve's hawkish outlook.
Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.
On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.
Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.
