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FXStreet
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 has advanced just past the 1.3400 barrier before losing some momentum on Tuesday. Cable has since edged lower to trade around 1.3380 as investors turned more cautious following reports that Iran had targeted commercial vessels attempting to transit the Strait of Hormuz.
EUR/USD struggles to gather bullish momentum on Tuesday, trading in a tight range around 1.1400. The pair lacks clear direction amid the equally vacillating price action in the US Dollar, all against the backdrop of renewed tensions in the Strait of Hormuz and a sell-off in Asian technology stocks.
Gold bounces off earlier lows and hovers around the $4,180 region per troy ounce on Tuesday. Fresh geopolitical effervescence lend support to inflation concerns and seem to limit the yellow metal’s bull run for now.
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.
