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The token’s rejection at $0.26 came amid a broad crypto pullback, with the CoinDesk 20 Index sliding 4% and rate-cut hopes fading. Aug 14, 2025, 6:38 p.m. Polygon’s POL token tumbled 6% on Thursday, falling through key support levels as higher-than-expected U.S. inflation data shook risk assets. POL traded in a wide 10% range over the past 24 hours, climbing from $0.25 to $0.26 in early trading before reversing sharply, data from CoinDesk Analytics shows. A burst of selling sent the token down to $0.24, with trading volume spiking to 1.1 million units — more than triple its 24-hour average. The $0.26 mark has now emerged as a significant resistance zone after the high-volume rejection. The selloff came alongside a broader market decline triggered by a U.S. producer price index (PPI) report showing a 0.9% month-over-month rise in July, the biggest jump in more than three years. The data, which measures wholesale inflation before it reaches consumers, dampened expectations for Federal Reserve rate cuts and pressured speculative assets. The CoinDesk 20 Index, a benchmark for the broader crypto market, dropped 4% over the same period, as profit-taking accelerated across major tokens. POL was last changing hands near $0.24, with momentum indicators signaling further downside risk. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. CD Analytics CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets. All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article. CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy. Helene Braun Helene is a New York-based markets reporter at CoinDesk, covering the latest news from Wall Street, the rise of the spot bitcoin exchange-traded funds and updates on crypto markets. She is a graduate of New York University’s business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH. X icon More For You Altcoin Season Could Begin in September as Bitcoin’s Grip on Crypto Market Weakens: Coinbase Institutional Coinbase expects falling bitcoin dominance, improving liquidity and renewed investor appetite to shift gains toward altcoins starting in September. What to know: Coinbase Institutional’s latest research report says September could mark the start of an altcoin season, citing three key market shifts. Falling bitcoin dominance and higher liquidity may drive altcoin outperformance. Renewed investor risk appetite could extend the rally into year-end. Read full story Read More

Crypto Slide Spurs $1B Leverage Flush, But It’s a Healthy Pullback, Analysts Say Market strategists said the crypto rally’s broader outlook remains positive despite the largest long liquidations since early August. Aug 14, 2025, 4:06 p.m. Crypto prices slipped Thursday after an unexpectedly hot PPI inflation print, but analysts said it’s just a pullback within the rally. The CoinDesk 20 Index of largest cryptocurrencies fell 2.1% over the past 24 hours, with bitcoin dropping 2.3%. XRP lost 4.6% with ether (ETH) outperforming by edging down 0.7%. “The pullback is, in my view, simply a recalibration in an otherwise bullish trend,” said David Siemer, co-founder and CEO of Wave Digital Assets. “Bitcoin remains firmly entrenched as the anchor of institutional crypto strategies.” Bitcoin’s (BTC) rush to new all-time highs over $124,000 was fueled by rising expectations for Federal Reserve interest-rate cuts in September coupled with surging ETF inflows and institutional adoption. The Thursday reversal to as low as $118,000 was “equally normal,” he said. “After such a sharp rally, profit-taking tends to set in, and we saw short-term traders liquidate their positions and take gains,” Siemer said. “In addition, higher-than-expected inflation data, particularly around core consumer prices, has tempered some of the Fed optimism that drove the rally. “It’s a healthy consolidation rather than a reversal,” he concluded. Joel Kruger, market strategist of LMAX Group shared a similar view. “It comes as no surprise to see a round of profit taking kick in following some impressive moves in crypto markets this week,” Kruger wrote in a morning note. “But overall, the outlook remains highly constructive and dips should be well supported.” Looking ahead, key risks for crypto prices are potential overextension of valuations, geopolitical turbulence or economic data that could recalibrate Fed projections, Kruger added. Still, late bulls were punished for their exuberance. The shakeout triggered a massive leverage flush, liquidating over $1 billion in leveraged trading positions across all crypto derivatives over the past 24 hours, mostly longs betting on rising prices, CoinGlass data shows. Crypto liquidations (CoinGlass) That’s the largest long liquidation since at least the late July–early August plunge. That time, BTC dipped below $112,000 and many altcoins saw double-digit pullbacks, eventually carving out the local bottom for most of the digital asset market. “The ‘I guess opening a 50x long after a 7-day 50% move was not the best idea’ type of shakeout here,” well-followed trader Bob Loukas said in an X post. Read more: Bitcoin Hits $124K Record as 4 Tailwinds Align: Crypto Daybook Americas Helene Braun Helene is a New York-based markets reporter at CoinDesk, covering the latest news from Wall Street, the rise of the spot bitcoin exchange-traded funds and updates on crypto markets. She is a graduate of New York University’s business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH. X icon Krisztian Sandor Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University’s business and economic reporting program before joining CoinDesk. He holds BTC, SOL and ETH. X icon More For You Altcoin Season Could Begin in September as Bitcoin’s Grip on Crypto Market Weakens: Coinbase Institutional Coinbase expects falling bitcoin dominance, improving liquidity and renewed investor appetite to shift gains toward altcoins starting in September. What to know: Coinbase Institutional’s latest research report says September could mark the start of an altcoin season, citing three key market shifts. Falling bitcoin dominance and higher liquidity may drive altcoin outperformance. Renewed investor risk appetite could extend the rally into year-end. Read full story Read More

Topline President Donald Trump claimed Wednesday he is the “Highest polling Republican President in HISTORY,” repeating a questionable claim he also made during first term as his approval rating was below 50% in two polls this week. President Donald Trump speaks during an event at the Kennedy Center on August 13, 2025 in Washington, DC. (Photo by Kevin Dietsch/Getty Images) Getty Images Key Facts “Wow! Highest polling Republican President in HISTORY! Thank you,” Trump wrote on Truth Social, though it’s unclear which polls he was referencing. Trump could have been referring to a polling aggregation by CNN last month that showed 63% of Republican voters strongly approve of Trump five months into his second term, compared to 53% during this point in his first term, what Enten called “history making,” as Trump’s rating beat all other former Republican presidents dating back to Ronald Reagan. When factoring in Democrats and independents, however, Trump has some of the worst approval ratings, tying former President Joe Biden, according to other surveys. Trump’s average approval ratings during both his first and second terms are below those of all previous presidents dating back to Harry Truman, other than Biden, who had the same average approval rating as Trump does for his second term (42%), according to Gallup polling, the longest-running presidential pollster. Meanwhile, two polls this week show Trump’s net approval rating ranges from -12 to -6: his overall rating ticked up two points in the Economist/YouGov’s weekly poll, but declined three points in Morning Consult’s weekly survey, which also found his approval rating dipped back to a record 45% low for his second term. Trump made a similar claim during his first term, tweeting in July 2018 that he had the “highest poll numbers in the history of the Republican Party,” though Gallup data shows both George H.W. Bush and Dwight Eisenhower both had higher approval ratings than Trump’s 85% rating at the same point in their terms, Politifact reported. Big Number 37%. That’s the share of Republicans and U.S. adults who lean Republican who said Trump had done the best job as president over the past 40 years, according to a Pew Research survey of U.S. adults conducted July 10-16, 2023, before the start of his second term. Reagan led Trump, with 41% of Republicans or U.S. adults who lean Republican, saying Trump did the best job. Tangent Trump’s approval rating among Republicans has declined steadily since the start of his second term, according to YouGov polling that found 92% of Republicans and Republican-leaning Independents approved of Trump in January. His approval rating had dropped to 83% among Republicans and Republican-leaning Independents as of Tuesday. Key Background Trump began his second term with a 52% approval rating, according to Nate Silver’s polling average, though his numbers entered the red sometime in mid-March, and 52% now disapprove of his job performance, compared to 44% who approve. After a consistent decline between June and July—largely tied to his wide-ranging tariffs—Trump’s numbers have stabilized over the past two weeks, with his net approval rating fluctuating 0.3 percentage points since Aug. 1, between -8.5 and -8.9. Further Reading Trump’s Approval Rating: Inches Up In 1 Poll This Week, Hits Record Low In Another (Forbes) Read More

Corey Heim (No. 24 Sam Hunt Racing Upper Deck Toyota) leads a group of cars at turn two during the Xfinity Series Focused Health 250 on March 01,2025 at the Circuit of the Americas in Austin, TX.(Photo by Adam Davis/Icon Sportswire via Getty Images) Icon Sportswire via Getty Images Sam Hunt is trying to do something extraordinary. At 32 years old, he’s attempting to become one of the youngest winning team owners in Nascar Xfinity Series history. The independent Sam Hunt Racing is managed by Hunt, a former racer himself, who had the foresight that he may not make it as a driver. “I have always been a realist and reality has never scared me or phased me,” Hunt said. “I was fortunate to race with some really good guys like Kyle Larson and Chase Elliott. I got to see the level of talent it was going to take to make it all the way. Racing with Kyle Larson was a pretty good indicator.” Hunt competed in the ARCA Menards Series East from 2012-19 before realizing it’s time for a change. He totaled a trio of top 10 finishes in 34 career starts with a best finish of sixth in 2013. Running the full 2012 campaign, he placed 12th in points, the same year in which Larson won the championship. Additional Cup Series stars Chase Elliott, Bubba Wallace, Tyler Reddick and part timer Corey LaJoie were victorious that season. But Hunt’s passion for the sport, combined with a business degree from Virginia Commonwealth University, propelled him to start his own team in 2019. Slowly, Hunt began fielding an entry for more races in 2020 before going full-time in 2021. His team blossomed, growing to two full-time entries in 2023. Hunt’s small group has come close to winning on numerous occasions. John Hunter Nemecheck has a trio of top fives for the organization, and Toyota driver Corey Heim also nearly won a few races in Hunt’s equipment. This year, Christopher Bell was contending for a win at Mexico City in Hunt’s No. 24 car until an engine expired. “We have one step left to be there consistently,” Hunt said of competing for wins. “We’ve covered the bingo card all around victory lane. I want all of the people who have left bigger, Cup-affiliated teams and have gotten on board with what we’re building to be in victory lane. “I won’t say it’ll be the most special day in my life because I am married, but it’ll be close to it.” Hunt is currently fielding a single full-time entry with rookie Dean Thompson, while running a part-time second car with numerous drivers. Thompson struggled in the Craftsman Truck Series at times, but is now thriving as a rookie in the Xfinity Series. He has a top five and five top 10s through 23 races. “His confidence wasn’t at its highest,” Hunt said of when Thompson signed on with SHR. “When he came in, we said he needed to embed himself into our program and be with us every single day. We were going to be hard on him, but we are his family.” While Hunt does not have an official alliance with Toyota powerhouse Joe Gibbs Racing, the small team is succeeding because of JGR equipment. SHR purchases older JGR equipment and leases the team’s engines. “J.D. Gibbs (one of Joe Gibbs’ sons) was one of the first owners I met when I was younger,” Hunt said. “How J.D. interacted and treated his people and how his people looked up to him was inspiring to me. The entire Gibbs family has always been very welcoming to me, a kid with a big dream trying to start a very improbable business. “We have to be extremely creative about how we develop as purist racers.” The journey to get to this point was extremely tough. Hunt moved to Mooresville, N.C. with nothing. He was living in a van outside of the old Robert Yates Racing engine shop until he got some floor space inside. Now, as Hunt looks to win as a team owner, the most reachable goal at the moment is qualifying for the playoffs. Thompson is 16th on the playoff grid with three races remaining in the regular season, four positions away from the cutoff line and 82 points back. He will likely need to deliver SHR its first win in the next three races to qualify for the postseason. The series has a couple of wild card races remaining, first visiting Daytona International Speedway next weekend. Read More

Topline President Donald Trump will announce the first Kennedy Center Honors recipients Wednesday since he fired Democratic members of the board and took over as chairman in February, which the center has hinted will include a “country music icon, an Englishman,” and a “New York City Rock band.” President Donald Trump took over as the Kennedy Center’s chairman in February. (Photo by alex wroblewski / AFP) (Photo by ALEX WROBLEWSKI/AFP via Getty Images) AFP via Getty Images Key Facts Trump will announce the Kennedy Center honorees at the John F. Kennedy Center for the Performing Arts in Washington, D.C., on Wednesday morning, an official account for his administration posted on X. Though the honorees are not yet known, the Washington Post reported the administration has considered country music star George Strait, rock band Kiss and English actor Michael Crawford. The rumored names square with hints the Kennedy Center posted on Tuesday night, stating the honorees would include a “country music icon, an Englishman, a New York City Rock band, a dance Queen and a multi-billion dollar Actor.” Trump said in a Truth Social post Tuesday his administration is working to bring the Kennedy Center “back to the absolute TOP LEVEL of luxury, glamour, and entertainment,” also hinting he wants to rename the institution to the “TRUMP/KENNEDY CENTER.” What Are The Kennedy Center Honors? The Kennedy Center Honors are an annual awards ceremony in which various people across the performing arts are honored for their lifetime contributions and achievements. The ceremony has been broadcast on CBS since its inception in 1978, though Deadline reported it is not a ratings blockbuster and is instead more of an opportunity for network executives to mingle with politicians. Recent honorees have included director Francis Ford Coppola and singer Bonnie Raitt in 2024, singer Dionne Warwick and rapper-actress Queen Latifah in 2023, and actor George Clooney and rock band U2 in 2022. How Did Trump Take Over The Kennedy Center? In February, Trump said he would “make the Kennedy Center in Washington D.C., GREAT AGAIN” by terminating members of the board of trustees and taking over as the center’s chairman. Trump, and other Republican critics, accused the center of hosting “Drag Shows specifically targeting our youth,” possibly referring to an event the institution held in 2024 titled “Dragtastic Dress-up,” which the New York Times reported as aimed at “LGBTQ+ youth under 18.” Trump purged and replaced the board of former President Joe Biden’s appointees and was elected chairman by the new board. Trump’s takeover of the center was met with protests from artists, including actress-comedian Issa Rae, who canceled a scheduled show at the Kennedy Center, and television producer Shonda Rhimes, who resigned from the center’s board. Singer Renée Fleming, a 2023 Kennedy Center honoree and artistic advisor, resigned from her post and praised “bipartisan support for this institution,” without naming Trump. Will The Kennedy Center Be Named After Trump? In July, House Republicans passed an amendment that would rename the Kennedy Center’s opera house after First Lady Melania Trump. The amendment is part of a bill to fund the Interior Department, but the bill still needs to pass both houses of Congress to become law. Rep. Bob Onder, R-Mo., introduced the “Make Entertainment Great Again Act” in July proposing the center be named after Trump, though the House has not taken action on this bill. Further Reading Issa Rae, Shonda Rhimes And More Artists Cut Ties With Kennedy Center After Trump Installs Himself As Chairman (Forbes) Who gets Kennedy Center Honors under Trump? Here are three likely picks. (Washington Post) Read More

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Editors’ Picks AUD/USD remains steady following Chinese economic data The Australian Dollar remains subdued against the US Dollar on Friday, following disappointing key economic data from China, Australia’s major trading partner. The AUD/USD lost more than 0.5% in the previous session as the US Dollar gained ground following stronger US economic data. USD/JPY: Japanese Yen rises on strong GDP as USD recovery momentum fades The Japanese Yen regains some positive traction during the Asian session on Friday and stalls the previous day’s sharp retracement slide from a three-week high touched against its American counterpart. Data released earlier today showed that Japan’s economy expanded more than expected in the second quarter despite US tariff headwinds. Five reasons why Trump’s trade war is likely to escalate Buoyant markets, a resilient US economy, rising customs revenues, appeasement by trading partners and conducive politics point to further escalation in US trade tensions, already set to cut global output by an estimated 0.7pps in the medium term. Best Brokers for EUR/USD Trading SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you’re a beginner or an expert, find the right partner to navigate the dynamic Forex market. Read More

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Editors’ Picks GBP/USD: Upside remains capped near 1.3600 after UK data GBP/USD is fading an uptick to near 1.3600 in European trading on Thursday. The upbeat UK Q2 GDP data briefly lifted the Pound Sterling, but a sharp decline in the quarterly Total Business Investment data dragged it lower. However, the pair’s downside appears capped by sustained US Dollar weakness. US PPI data eyed.  Ethereum and BNB near all-time highs as Bitcoin hits record peak Ethereum (ETH) and BNB (BNB), formerly known as Binance Coin, are edging closer to their all-time highs, supported by strong corporate demand and a robust technical outlook. Technical analysis suggests potential upside targets near $5,000 for ETH and $900 for BNB. Gold flat lines as upbeat market mood offsets Fed rate cut bets Gold attracts some sellers following an Asian session rise to the $3,375 region, or a multi-day low, though it lacks follow-through amid a combination of supporting factors. The optimism over an extension of the US-China trade truce for another three months and the US-Russia summit on Friday remains supportive of the upbeat market mood. Five reasons why Trump’s trade war is likely to escalate Buoyant markets, a resilient US economy, rising customs revenues, appeasement by trading partners and conducive politics point to further escalation in US trade tensions, already set to cut global output by an estimated 0.7pps in the medium term. Best Brokers for EUR/USD Trading SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you’re a beginner or an expert, find the right partner to navigate the dynamic Forex market. Read More

The Indian Rupee drops against the US Dollar as India’s WPI inflation grew moderately in July. US Treasury Secretary Bessent anticipates a 50-bps interest rate cut by the Fed in September. Investors await India-US producer inflation data for July. The Indian Rupee (INR) falls back against the US Dollar (USD) on Thursday after a two-day recovery move. The USD/INR rises to near 87.80 as India’s Wholesale Price Index (WPI) inflation has deflated at an annual pace of 0.58% in July, faster than estimates of 0.3%, and from 0.13% in June. Declining inflation growth at the wholesale level suggests that firms are anticipating a weak demand outlook, a scenario that would force Reserve Bank of India’s (RBI) officials to support further unwinding of monetary policy restrictiveness. Financial market participants were already cautious about the Indian Rupee outlook ahead of the meeting between United States (US) President Donald Trump and Russian leader Vladimir Putin, which is scheduled for Friday in Alaska. US President Trump has called Russian leader Putin to discuss ending the war in Ukraine. On Wednesday, Trump threatened “severe consequences” if Putin refused a truce in Ukraine. The Trump-Putin meeting holds significant importance for the Indian Rupee outlook, given that the US has increased tariffs on imports from New Delhi to 50% for buying Oil from Russia. US Treasury Secretary Bessent has also threatened to increase tariffs on India further if discussions with Russia don’t go well. “We put secondary tariffs on the Indians for buying Russian oil. And I could see if things don’t go well, then sanctions or secondary tariffs could go up,” Bessent said at Bloomberg TV. In spite of US-India trade tensions, S&P has maintained a positive outlook on India’s sovereign ratings, citing that the Indian economy is highly dependent on domestic consumption and has limited exposure to global trade. India’s long-term unsolicited sovereign credit ratings have been upgraded to “BBB” from “BBB-“. “I don’t think the tariffs imposed on India will have an impact in terms of economic growth, largely because India is not a very trade-oriented economy. And if you look at India’s exposure to the US in terms of exports to GDP, it is just about 2 per cent,” S&P Global Ratings Director YeeFarn Phua said, NDTV reported. Meanwhile, the continuous outflow of foreign funds from Indian equity markets is also maintaining uncertainty around the Indian Rupee’s outlook. On Wednesday, Foreign Institutional Investors (FIIs) sold Rs. 3,644.43 crores worth of shares in Indian markets. So far in August, FIIs have pared stake worth Rs. 22,264.75 crores in Indian equities, and remained buyers only on one trading day. Theoretically, currencies from economies that witness a significant outflow of foreign funds underperform their peers. Going forward, the Indian currency is expected to remain on the sidelines as equity markets in the Asian nation will remain closed on Friday on account of Independence Day. Indian Rupee PRICE Today The table below shows the percentage change of Indian Rupee (INR) against listed major currencies today. Indian Rupee was the weakest against the Japanese Yen. USD EUR GBP JPY CAD AUD INR CHF USD 0.25% -0.02% -0.54% 0.14% 0.25% 0.17% 0.21% EUR -0.25% -0.24% -0.79% -0.12% -0.01% -0.10% -0.05% GBP 0.02% 0.24% -0.54% 0.23% 0.30% 0.21% 0.30% JPY 0.54% 0.79% 0.54% 0.70% 0.79% 0.70% 0.72% CAD -0.14% 0.12% -0.23% -0.70% 0.14% 0.06% 0.07% AUD -0.25% 0.01% -0.30% -0.79% -0.14% -0.10% -0.12% INR -0.17% 0.10% -0.21% -0.70% -0.06% 0.10% -0.02% CHF -0.21% 0.05% -0.30% -0.72% -0.07% 0.12% 0.02% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Indian Rupee from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent INR (base)/USD (quote). Daily digest market movers: Indian Rupee declines against US Dollar, US PPI in focus The Indian Rupee trades lower against the US Dollar even as the latter has been battered by intensifying expectations that the Federal Reserve (Fed) will resume its monetary expansion cycle in the September policy meeting, which it paused after interest rate cuts in December 2024. At the time of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades cautiously near an over two-week low of around 97.60. According to the CME FedWatch tool, traders have almost fully priced in a 25 basis points (bps) interest rate reduction in September that will push borrowing rates lower to 4.00-4.25%. Fed dovish expectations swelled after the United States (US) Consumer Price Index (CPI) report for July showed that the headline inflation grew at a moderate pace of 0.2% on a month, as expected, softer than 0.3% in June. The CPI report diminished investors’ fears of a continuous flow of the tariff impact into prices. Meanwhile, market experts are mixed about the Fed reducing interest rates in September. Investment banking firm Goldman Sachs said in a research note that it expects the Fed to deliver three 25-bps interest rate cuts this year and two more in 2026. On the contrary, analysts at Commonwealth Bank of Australia said, “There will be another CPI and payrolls report ahead of the September meeting that can make or break the case for a rate cut.” On Wednesday, US Treasury Secretary Scott Bessent said in an interview at Bloomberg TV that the Fed could deliver a larger-than-usual reduction in interest rates by 50bps next month, citing weak payrolls data in the last three months. He further added that there is a need to bring interest rates down by 150-175 bps. “Rates are too constrictive. We should probably be 150 to 175 basis points lower,” Bessent said. In Thursday’s session, investors will focus on the US Producer Price Index (PPI) data for July, which will be published at 12:30 GMT. The US producer inflation is expected to have grown at a faster pace on

Quarterly GDP for the UK ticked up 0.3% in Q2 2025 vs. 0.1% forecast. UK GDP came in at 0.4% MoM in June vs. 0.1% anticipated. GBP/USD pops and drops after the UK economic data. The UK economy expanded at a quarterly rate of 0.3% in the three months to June 2025, following a 0.7% growth in the first quarter (Q1). The data beat the market forecast of 0.1% in the reported period. The UK GDP rose 1.2% year-over-year (YoY) in Q2 2025 vs. 1% expected and a 1.3% in Q1. The monthly UK GDP arrived 0.4% in June, compared to a 0.1% decline in May, outpacing the estimated 0.1% print. Meanwhile, the Index of services (June) stayed at 0.4% 3M/3M. Other data from the UK showed that Industrial Production and Manufacturing Production rebounded 0.7% and 0.5%, respectively, over the month in June. The quarterly preliminary Total Business Investment declined by 4% in the April to June quarter from 3.9% in the previous period. Market reaction to the UK data The Pound Sterling caught fresh bids on the UK data release, driving GBP/USD close to 1.3600 before reversing quickly to 1.3575, where it now wavers. British Pound PRICE Today The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the New Zealand Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD 0.07% -0.02% -0.63% 0.02% -0.03% 0.19% 0.10% EUR -0.07% -0.06% -0.67% -0.06% -0.10% 0.09% 0.02% GBP 0.02% 0.06% -0.64% 0.11% 0.03% 0.27% 0.19% JPY 0.63% 0.67% 0.64% 0.66% 0.59% 0.70% 0.69% CAD -0.02% 0.06% -0.11% -0.66% -0.02% 0.17% 0.08% AUD 0.03% 0.10% -0.03% -0.59% 0.02% 0.25% 0.05% NZD -0.19% -0.09% -0.27% -0.70% -0.17% -0.25% -0.12% CHF -0.10% -0.02% -0.19% -0.69% -0.08% -0.05% 0.12% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote). Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Read More

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Editors’ Picks AUD/USD remains steady following Chinese economic data The Australian Dollar remains subdued against the US Dollar on Friday, following disappointing key economic data from China, Australia’s major trading partner. The AUD/USD lost more than 0.5% in the previous session as the US Dollar gained ground following stronger US economic data. USD/JPY: Japanese Yen rises on strong GDP as USD recovery momentum fades The Japanese Yen regains some positive traction during the Asian session on Friday and stalls the previous day’s sharp retracement slide from a three-week high touched against its American counterpart. Data released earlier today showed that Japan’s economy expanded more than expected in the second quarter despite US tariff headwinds. Five reasons why Trump’s trade war is likely to escalate Buoyant markets, a resilient US economy, rising customs revenues, appeasement by trading partners and conducive politics point to further escalation in US trade tensions, already set to cut global output by an estimated 0.7pps in the medium term. Best Brokers for EUR/USD Trading SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you’re a beginner or an expert, find the right partner to navigate the dynamic Forex market. Read More