BTC/USD remains under pressure near $87,000 as bearish technical signals, weak ETF flows, and global rate hike fears point to a potential drop toward $80,650.

GBP/USD jumped to its highest level since October as traders anticipate a soft UK inflation print and potential BOE rate cut, following weak jobs data from both the UK and US.

EUR/USD rose toward its highest level since September, buoyed by weak US job data and expectations that the ECB will hold rates steady ahead of key inflation figures.

After rising above 1.1800 for the first time since late September on Tuesday, EUR/USD lost its traction and closed the day marginally lower. The pair stays on the back foot early Wednesday and trades in negative territory below 1.1750.

Gold (XAU/USD) attracts fresh buyers during the Asian session on Wednesday, though it remains confined in a multi-day-old trading range amid mixed fundamental cues. The global risk sentiment remains on the defensive amid economic woes and fears of the AI bubble burst.

Gold prices extend their consolidative phase on Tuesday, with the bright metal holding above the $4,300 mark, but unable to run past the $4,350 weekly top. The bright metal found some near-term demand early in the American session, following the release of a batch of United States (US) data.