The Dollar extended gains against a basket of major currencies on Wednesday following January’s hawkish FOMC meeting minutes. Sterling ventured lower on Thursday after UK GDP data for the final quarter of 2017 was revised down. In the commodity arena, Oil prices were pressured by the oversupply concerns while Gold edged lower thanks to an appreciating Dollar. With the Dollar roaring back to life amid heightened rate hike expectations, the #EURUSD, #GBPUSD, #Oil, and #Gold could remain pressured.
The Dollar extended gains against a basket of major currencies on Wednesday following January’s hawkish FOMC meeting minutes. Sterling ventured lower on Thursday after UK GDP data for the final quarter of 2017 was revised down. In the commodity arena, Oil prices were pressured by the oversupply concerns while Gold edged lower thanks to an appreciating Dollar. With the Dollar roaring back to life amid heightened rate hike expectations, the #EURUSD, #GBPUSD, #Oil, and #Gold could remain pressured.
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