Gold (XAU/USD) surges above $3,530 toward record highs as Fed rate cut expectations, safe-haven demand, and tariff concerns fuel bullish momentum.

The EUR/USD pair trades around the 1.1650 area, finding some stability after Tuesday’s wild movements. The pair fell to a fresh one-week low of 1.1608 early in the European session, recovering afterwards.

After falling more than 1% and registering its biggest one-day loss since April on Tuesday, GBP/USD touched its lowest level since early August at 1.3333 in the Asian session on Wednesday.

EUR/USD remains under selling pressure near 1.1600 as rising European bond yields and risk-off sentiment strengthen the US dollar.

The USD/BRL continues to trade steadily within its 5.40–5.50 range, with volatility expected to rise ahead of Friday’s U.S. jobs report.

The USD/ILS remains capped below 3.40, trading within its durable 3.30–3.40 range as traders eye U.S. jobs data and upcoming Fed moves.