UAE ForeignMin: We are far away from a Qatar solution

Dhwani Mehta FXStreet

Reuters reports comments from the UAE minister of state for foreign affairs, Anwar al-Gargash, as posted on his official Twitter account on Friday.

Anwar al-Gargash noted: "We are headed for a long estrangement ... we are very far from a political solution involving a change in Qatar's course, and in light of that nothing will change and we have to look for a different format of relations."

Saudi Arabia, the UAE, Bahrain and Egypt cut trade and travel ties with Qatar on June 5, accusing it of supporting terrorism.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

EUR/USD bounces off lows, back to 1.1860

EUR/USD now manages to regain some balance, retesting the 1.1860-1.1870 band after bottoming out near 1.1830 following the US NFP data on Wednesday. The pair, in the meantime, remains on the defensive amid fresh upside traction surrounding the US Dollar.

GBP/USD rebounds to 1.3660, USD loses momentum

GBP/USD trades with decent gains in the 1.3660 region, regaining composure following the post-NFP knee-jerk toward the 1.3600 zone on Wednesday. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold stays bid, still below $5,100

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of humble gains in the US Dollar and firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.