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GBP/USD sets aside Friday’s uptick and breaches below the 1.3300 yardstcik on Monday to hit new multi-week troughs. Falling crude oil prices following a pause in the Middle East conflict in combination with the recent soft reading in UK inflation appear to play against any BoE tightening ahead of the bank’s event later in the week.
EUR/USD fades the initial bull run past 1.1400 the figure, deflating toward the 1.1370 zone on Monday. That said, the pair reverses two daily drops in a row on the back of the irresolute price action in the US Dollar, at the time when investors continue to closely follow developments from the Middle East conflict. Next on tap is the release of the US Consumer Confidence gauge by the Conference Board.
Gold extends the drop below $4,050 in the Asian session on Tuesday amid a bullish US Dollar. The downside seems limited as traders might opt to wait for the outcome of a two-day FOMC policy meeting on Wednesday. Furthermore, a pause in US-Iran hostilities led to a slump in Oil prices, easing inflationary concerns and tempering bets for Fed rate hikes, which could limit the Gold price pullback.
Ethereum treasury firm BitMine Immersion Technologies increased its share buybacks last week while scooping extra tokens into its ETH stash. The Las Vegas-based firm bought back 6.1 million shares of its common stock last week, following a 5.5 million share purchase the prior week.
While geopolitical headlines continually send traders rushing to the Oil charts, history shows that the biggest market moves often begin when liquidity disappears, not when crude spikes. Rising bond yields, particularly in Japan and Switzerland, threaten to trigger the unwinding of one of the largest leveraged trades in financial history.
The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.
