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 […]