FxAnalysis

The British pound failed to hold 1.35, with risks of a drop to 1.34–1.33. Fed rate cuts fuel debate, but dollar demand remains strong in risk-off moves.

The USD/JPY pair builds on the previous day’s recovery from the 100-day Simple Moving Average (SMA) support, around the 146.60-146.55 region, or a two-week low, and gains positive traction for the second consecutive day on Friday.

EUR/USD holds its ground and trades in positive territory, slightly below 1.1750, in the European session on Friday.

Gold is flatlining in a tight range above $3,850 early Friday, following its two-way business on Wednesday, on track to register the seventh consecutive weekly rise.

EUR/USD retreated further on Thursday, breaking below 1.1700 as the Euro (EUR) came under renewed selling pressure. The pair touched weekly lows around 1.1685–1.1680, extending Wednesday’s slight pullback at the same time.

Gold price stood as high as $3,896.60 a troy ounce on Thursday, clinching yet another record high. The bright metal, however, retreated sharply after Wall Street’s opening and flirted with the $3,820 level.