British Pound tumbles as UK turmoil, Iran risks lift USD

British Pound tumbles as UK turmoil, Iran risks lift USD

The GBP/USD pair extends on Friday its losses for the fourth straight day, poised to finish the week down more than 2% as political turmoil in the UK and increased speculation that Prime Minister Keir Starmer’s successor could widen fiscal deficits weigh on the currency. At the time of writing, GBP/USD trades at 1.3343, its […]

Gold drops to over one-week lows as hawkish Fed bets boost US Dollar, Treasury yields

Gold drops to over one-week lows as hawkish Fed bets boost US Dollar, Treasury yields

Gold (XAU/USD) slides to over one-week lows on Friday, pressured by a stronger US Dollar (USD) and rising Treasury yields as mounting Oil-driven inflation risks strengthen expectations that the Federal Reserve (Fed) could keep interest rates elevated for longer. At the time of writing, XAU/USD is trading around $4,545, down 2.25% on the day. The […]

Indian Rupee hits all-time low around 96.00 against US Dollar

Indian Rupee hits all-time low around 96.00 against US Dollar

The Indian Rupee (INR) slides to a fresh all-time low against the US Dollar (USD) on Friday. The USD/INR pair jumps to 96.00 as the Indian Rupee faces intense selling pressure due to growing concerns over India’s foreign exchange reserves, following centre’s decision to hike import duty on Gold and Silver. Increase in import tariffs […]