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Editors’ Picks
GBP/USD nearing 1.2400, bulls on hold
GBP/USD is up for the day and heading into the weekly close, although missing momentum. Dismal United Kingdom macroeconomic data undermines demand for the Pound despite the US Dollar’s lack of appeal.
Gold struggles around $1930s, drops on buoyant US Dollar
Gold price retreats from multi-month highs ahead of the weekend due to the US Dollar (USD) recovering some ground and elevated US Treasury bond yields, despite recessionary fears around the US economy. Hence, the XAU/USD is retracing from daily highs of $1937.91, exchanging hands at $1926.42, down 0.28%.
