The dollar index was steady around 108.2 on Thursday after facing pressure earlier in the week, as investors awaited more clarity on President Donald Trump's policy plans. The index is down about 1% so far this week, following Trump's decision not to implement tariffs that have raised concerns about potential inflationary pressures. However, he has issued tariff threats against China, Mexico, Canada and the European Union in recent remarks. Investors are also focused on next week's Federal Reserve monetary policy meeting. The central bank is widely expected to keep interest rates unchanged...
Gold held above $2,750 an ounce on Thursday, extending a three-day rally and near its highest level since early November, relatively close to its record peak of $2,790. The precious metal continued to benefit from its safe-haven appeal amid uncertainty surrounding President Donald Trump's tariff plans, which have raised concerns about a potential trade war. On the monetary policy front, ECB policymakers endorsed further interest rate cuts on Wednesday, signaling a cut next week is almost certain, which would benefit non-yielding bullion. Meanwhile, the Federal Reserve is expected to keep...
The Japanese Yen (JPY) edged higher during the Asian session on Thursday (1/23) following the release of better-than-expected Trade Balance data from Japan, although it remained near a one-week low against the US currency hit the previous day. Prospects of an imminent interest rate hike by the Bank of Japan (BoJ) on Friday continued to underpin the JPY. Moreover, a subdued US Dollar (USD) price action, amid bets that the Federal Reserve (Fed) will cut interest rates twice this year, capped the USD/JPY pair's recovery from a more than one-month low hit on Tuesday. However, JPY market players...