GBP/USD strengthened to around 1.3480 at the start of Friday's Asian session, holding above 1.3450. This strengthening occurred as the US dollar weakened again, as markets became increasingly confident that the possibility of a Fed interest rate cut remains open this year. Dollar sentiment was also pressured as investors saw the potential for further USD weakness if the next Fed chairman was more dovish and pushed for deeper interest rate cuts. Market expectations regarding this policy direction have reduced the dollar's appeal against other major currencies, including the pound...
Precious metals opened the New Year 2026 with strong performance in Friday's trading. Gold, silver, and platinum continued their strong rally after posting remarkable gains throughout 2025. Global geopolitical tensions and hopes for interest rate cuts kept demand for safe-haven assets high at the start of the year. The spot gold price rose 1.3% to around US$4,372 per ounce, after previously hitting a record high in late December. US gold futures also strengthened. Analysts say year-end selling pressure has eased, allowing market focus to return to fundamental factors such as interest rates...
The US dollar opened 2026 weakly on Friday. Throughout last year, the dollar was pressured by many major currencies due to narrowing interest rate differentials between the US and other countries. Concerns about the US budget deficit, the global trade war, and the independence of the US Federal Reserve (Fed) weighed on the dollar and are expected to continue this year. The euro and the pound sterling are examples of currencies that have strengthened significantly. The euro stabilized at around $1.17 after surging more than 13% last year, while the pound sterling held around $1.34 after...