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Editors’ Picks
GBP/USD holds range near 1.3450 after UK employment data
GBP/USD keeps its range near 1.3450 in the European trading hours on Tuesday. The mixed UK labor data fails to have little impact on the Pound Sterling. Meanwhile, the US Dollar consolidates its recent recovery, bracing for the US CPI inflation data.
AUD/USD keeps the red around 0.6500 as RBA Bullock speaks at the presser
AUD/USD stays pressured at around 0.6500 in Tuesday’s Asian trading. The Aussie sees ‘sell the fact’ trading in a knee-jerk reaction to the RBA’s expected 25 bps interest rate cut to 3.6% in August. The RBA raised concerns about labor market conditions. Governor Bullock’s presser is underway for fresh policy cues.
Toncoin eyes breakout rally as Coinbase invests, bullish bets rise
Toncoin remains muted in a consolidation, recovering just over 1% at press time on Monday, despite the announcement of Coinbase Ventures’ investment. Still, bullish bets are on the rise, anticipating a bullish revival with the potential breakout of the 200-day Exponential Moving Average.
Bank of England cuts rates in dramatic meeting
The Bank of England has cut rates by a further 25 basis points to 4% but the statement hints that officials think the easing cycle is nearing its end. Policymakers are visibly worried about a more persistent bout of inflation as the headline number is way higher than target.
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