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PBOC sets USD/CNY reference rate at 7.1376 vs. 7.1323 previous
Source Fxstreet
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Friday at 7.1376, as against the previous day's fix of 7.1323 and 7.2437 Reuters estimates.
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The Euro extended its gains for the second straight day against the Japanese Yen and is up by 0.22% as the EUR/JPY trades at 162.47 late during the North American session.
Gold (XAU/USD) rallies over 2% on Monday, reaching a record high of $4,442 amid rising geopolitical tensions and expectations that the Federal Reserve (Fed) will continue to reduce interest rates next year, pushing US Treasury yields lower.
Silver (XAG/USD) has lost more than $10 since hitting a fresh record high near $86.00 on Monday’s early trading. The precious metal has retreated to levels in the $74.00 area at the time of writing, weighed by comments by US President Trump about the chances of a peace deal in Ukraine.
Gold price (XAU/USD) is down 0.8% to near $4,140 during the European trading session on Monday. The precious metal faces selling pressure as the three-day rally hits a pause after failing to extend above $4,202.