The Pound Sterling retreated below 1.2600 during the North American session as housing data in the United States was mixed, while inflation in the United Kingdom hit its highest level since March 2024.
The Pound Sterling (GBP) is still struggling to make and hold ground through the low 1.26 area following the UK inflation data earlier, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The Canadian Dollar (CAD) is little changed on the session as spot continues to pivot around 1.42, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is seeing traders brace for the Federal Reserve (Fed) Minutes release from its latest monetary policy meeting in January, with traders seeing
USD/JPY traded on a softer footing this morning on comments from BoJ’s board member Takata – it is important for BoJ to continue to consider policy adjustments even after last month’s rate hike in order to avoid excessively high expectations that monetary easing might persist.
Gold’s price (XAU/USD) has printed a fresh record high at $2,945 during the European trading session on Wednesday. The precious metal falls back to flat ahead of the United States (US) trading session after weekly US Mortgage Applications fell by 6.6%
The AUD/USD pair regains positive traction following the previous day's modest downtick and sticks to its positive bias through the first half of the European session amid a modest US Dollar (USD) downtick.
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