Gold (XAU/USD) price rises by more than 1% on Friday as investors digest a softer-than-expected US jobs report, trimming hawkish bets despite higher inflation. At the time of writing, the XAU/USD pair trades at $4,174, after bouncing off daily lows of $4,121.
Wells Fargo Economics, led by Tom Porcelli and colleagues, expects the June FOMC minutes to clarify what might push a divided Committee toward further tightening, but still sees the Federal Reserve keeping the funds rate unchanged.
Japan's Chief Cabinet Secretary Minoru Kihara reiterates, during the European session on Friday, that the administration is closely monitoring FX moves and is ready to intervene when needed. Kihara also said on Tuesday that officials are always ready to take the necessary action on forex.