GBP/CHF Exchange rate

EUR/USD extended the recovery from intraday monthly lows to the 1.0670 zone. It is holding firm above 1.0650 after the US Dollar lost momentum during the Asian session, primarily due to a retreat in US yields.

Boosted by a weaker US Dollar, the GBP/USD rebounded from six-month lows near 1.2230 and rose to the 1.2300 area. However, the Pound remains among the worst performers following the surprise dovish stance from the Bank of England.

XAU/USD extended its weekly decline to $1,913.91 as the US Dollar kept marching higher following the Federal Reserve (Fed) decision to keep rates unchanged, but remark rates will remain higher for longer. Also, the Fed left the door open for one more rate hike this year. Chair Jerome Powell said the focus is on a soft landing, suggesting they are still struggling to avoid a recession.

Tether Holdings has resumed the lending of its stablecoins in the form of secured loans to clients after announcing that it is set to wind down this practice less than a year ago. 

The Dow Jones Industrial Average (DJIA) has pulled back 0.51% so far this week, losing most of the ground after the Federal Reserve press conference on Wednesday. The US central bank once again paused interest rates but raised the specter of another hike before next year.