The Japanese Yen (JPY) traded with a mild positive bias against its US counterpart for the second straight day on Monday (05/05) amid renewed safe-haven demand, although the gains lacked strong conviction. Despite signs of easing US-China trade tensions, US President Donald Trump's rapidly changing stance on trade policy kept investors cautious. Further, geopolitical risks weighed on investor sentiment and provided little support to the JPY. Moreover, a modest US Dollar (USD) weakness dragged the USD/JPY pair back closer to the 144.00 mark during the Asian session. However, the Bank of...
Gold prices rose on Monday, supported by a weaker dollar, as investors awaited further details on U.S.-China trade relations, along with a Federal Reserve policy meeting later this week. Spot gold was up 0.5% at $3,256.85 an ounce, by 0416 GMT. U.S. gold futures were up 0.7% at $3,265.10. The dollar (.DXY), opens in a new tab, fell 0.3% against a basket of currencies, making gold more attractive to holders of other currencies. "The U.S. dollar appears to be weakening ahead of this week's Fed meeting, which could allow gold to gain a bit," said Tim Waterer, chief market analyst at KCM...
The GBP/USD pair strengthened to around 1.3290 during the early European session on Monday (05/05). The US dollar (USD) weakened against the British pound (GBP) amid rising economic uncertainties following US President Donald Trump's erratic trade policies. According to the daily chart, the bullish outlook for GBP/USD remains intact, as the price is holding above the key 100-day Exponential Moving Average (EMA). The upside momentum is supported by the 14-day Relative Strength Index (RSI), which is above the midline near 55.60, indicating the path of least resistance is to the upside. The...