USD/JPY pulls back from one-month highs as Dollar strength fades

The Japanese Yen (JPY) trades on the front foot against the US Dollar (USD) on Wednesday as the Greenback pauses after two days of strong gains, allowing the Yen to recover modestly. However, market sentiment remains cautious amid escalating tensions from the ongoing US-Iran war.

GBP/USD rebounds toward 1.3400 as markets look past strong US data

The Pound Sterling (GBP) recovers some ground versus the US Dollar (USD) on Wednesday, though tensions in the Middle East remain high, pushing macroeconomic data releases into the backseat.

Gold holds steady as USD rally pauses, US-Iran conflict supports demand

Gold (XAU/USD) stabilises on Wednesday, recovering part of the previous day’s sharp decline as the US Dollar (USD) takes a breather after two days of solid gains. Meanwhile, ongoing geopolitical tensions surrounding the US-Iran war keep safe-haven demand in play, helping cushion the downside.

BoE: Energy shock delays easing path – Rabobank

Rabobank’s Senior Macro Strategist Stefan Koopman argues that the recent surge in Oil and natural gas prices has derailed expectations for near-term Bank of England rate cuts, with the policy rate now seen on hold through 2026.

US ISM Services PMI climbs to 56.1 in February

Economic activity in the US service sector gathered momentum in February, with the ISM Services PMI advancing to 56.1 from 53.8 in the previous month, above analysts' expectations of 53.5.