TRY/USD Exchange rate

AUD/USD reverses three consecutive daily pullbacks, regaining some composure in response to the renewed selling pressure on the Greenback as investors assessed fresh threat to the Fed’s independence. Next on tap in Oz will be the Westpac Consumer Confidence gauge.

EUR/USD sets aside part of the recent sharp sell-off, gathering fresh steam on the back of the intense downward bias in the US Dollar. The Greenback’s marked pullback comes on the back of renewed concerns over the Fed’s independence, all ahead of Tuesday’s key US CPI data release.

Gold rallies to new record high past $4,600 on Monday due to safe-haven flows courtesy of the US Department of Justice, which presented charges against the Federal Reserve Chair Jerome Powell over the building’s renovations. At the time of writing, XAU/USD trades at $4606, up more than 2%.

Bitcoin treasury and financial intelligence company Strategy stepped up its accumulation of the top crypto last week after it purchased 13,627 BTC for $1.25 billion, its largest buy since last July.

Federal investigation of Powell and the Fed knocks risk sentiment. Concerns grow about Fed independence as gold hits a record. Are markets expecting Trump to scale back his rhetoric?