EUR/USD has extended its falls and struggles around 1.21 as the risk-off mood and elevated US bond yields favor the dollar. President Biden's stimulus bill ran into a snag. The Fed's preferred inflation measure and end-of-month flows are eyed.
Gold (XAU/USD) has been extending its downfall as elevated bond yields make the precious metal – which provides no returns – less attractive.
An ugly day for stock markets on Thursday as the dirty word inflation reared its head again. Just when you thought Powell had killed off the thought, it came back stronger in the sequel!
Bitcoin retest support at $45,000 after failing to break the resistance at $52,000. A break above the range between $48,000 and $49,500 will bring back a bullish impulse.
The US Dollar Index (DXY), which gauges the buck vs. a basket of its main rivals, keeps the bid tone unchanged around 90.60 on Friday.