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USD Under Pressure as Gold Surges and Fed Meeting Looms

Yesterday we saw continuing USD weakness after Donald Trump revoked his intentions of military actions on Greenland and withdraw tariff threats towards UK and European countries. We have seen gold prices surge since this statement end of last week and Monday was no change with GBP and EUR both taking advantages to the USD. An additional factor leading to USD weakness, is brewing possibilities of an intervention in Japan for the YEN. Central banks, like China’s and investors worldwide have looked to differentiate their holdings away from the greenback.

Tuesday’s data releases are from the US with weekly employment change and consumer confidence. Expectations are that consumer confidence will see a small lift from its prior figures, while ADP employment change has no forecasting. USD is under immense pressure right now. Focus will now shift ahead of tomorrows Federal Reserve interest rate meeting. Forecasting suggest that the Federal Reserve will hold rates at 3.75%. From the policy meeting, we can start to see further volatility if the Fed gives us a clearer forward guidance of how many rate cuts that’s expected for 2026.

GBP/EUR 1.1515 GBP/USD 1.3687 GBP/AED 5.0286
GBP/AUD 1.9764 GBP/CHF 1.0624 GBP/CAD 1.8769
GBP/NZD 2.2931 EUR/USD 1.1869 GBP/ZAR 21.9529

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