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Key Takeaways
- 💰 Dollar gained on geopolitical tensions and safe-haven appeal
- 🇬🇧 Pound slipped after Bank of England rate cut
- 🇺🇸 Fed mentioned possible rate cuts in September
- 📉 Expectation of three rate cuts by year-end
- 📊 Next major economic release – Friday’s jobs report
- 📈 Dollar index was up at 104.41
- 💷 Sterling dropped to lowest level since July 3
- 🇪🇺 Euro touched a three-week low
- 🇯🇵 Japanese yen edged higher following Bank of Japan’s decision
- 📉 Bitcoin fell to $62,848
Dollar Gains on Geopolitical Tensions and Safe-Haven Appeal
- The dollar strengthened as investors sought its safety amidst rising geopolitical tensions.
Pound Slips After Bank of England Rate Cut
- The pound decreased in value following the Bank of England’s decision to cut interest rates.
Expectation of Rate Cuts by Year-End
- There is an expectation in the market for three rate cuts to occur before the end of the year.
Major Economic Release on Friday
- Investors are awaiting the release of Friday’s jobs report, which is expected to have a significant impact on the market.
Euro Touches Three-Week Low
- The euro experienced a decrease in value, touching a three-week low compared to other major currencies.
Japanese Yen Edges Higher Post Bank of Japan’s Decision
- The Japanese yen slightly increased in value following the Bank of Japan’s recent decision.
Bitcoin’s Price Falls
- The value of Bitcoin fell to $62,848, reflecting the volatility in the cryptocurrency market.