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EUR/USD recovers to 1.0850 area after German inflation data
EUR/USD recovered to the 1.0850 area and erased its daily losses on Wednesday. The data from Germany showed that the annual HICP inflation rose to 2.8% in May from 2.4% in April, helping the Euro stay resilient against its major rivals.
GBP/USD extends sideways grind at around 1.2750
GBP/USD fluctuates in a tight channel at around 1.2750 in the European session on Wednesday. The US Dollar (USD) benefits from the negative shift seen in risk mood and doesn't allow the pair to gain traction. The Fed will release the Beige Book later in the day.
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Editors’ Picks
Gold retreats toward $2,350 on renewed USD strength
Gold stays on the back foot on Wednesday and trades in the red below $2,350 after closing the previous three trading days in positive territory. The renewed USD strength and the recovery seen in US Treasury bond yields make it difficult for XAU/USD to hold its ground.
Digital asset inflows reach record high year-to-date
CoinShares' weekly digital asset flows, released on Tuesday, reveal that digital assets recorded a three-week consecutive rise in inflows, amounting to a record high of $14.9 billion already this year.
Big moves ahead: ECB’s interest rate cut and the future of EUR/USD
The European Central Bank is set for a major move: an interest rate cut in June. This decision, backed by top officials like ECB Vice President Luis de Guindos and French central bank chief Francois Villeroy de Galhau.