Gold price (XAU/USD) rallies more than 3% on Friday, poised for a decent weekly gain as dip buyers emerged, following a session that pushed the yellow metal below the $4,800 mark.
Lee Hardman from MUFG highlights that the Pound has sold off sharply, with EUR/GBP breaking above its 200-day moving average as markets reprice a more dovish Bank of England path.
The EUR/USD pair attempts to regain ground near 1.1770 during the Asian trading session on Friday. The major currency pair attracts slight bids as the US Dollar ticks down amid an improvement in speculation that the Federal Reserve (Fed) could cut interest rates in the March policy meeting