The AUD/JPY pair slumps to near 100.40 during the Asian trading session on Tuesday as the Reserve Bank of Australia (RBA) has held its Official Cash Rate (OCR) steady at 3.6%. This is the second straight meeting when the RBA has maintained a status quo.
Gold price (XAU/USD) declines to around $4,000 during the early Asian session on Tuesday. The precious metal edges lower as traders dialed back bets for further Federal Reserve (Fed) rate cuts. The Fed’s Michelle Bowman is scheduled to speak later in the day.
GBP/USD stabilizes around 1.3140 at the start of the week, virtually unchanged for the day. The Pound Sterling (GBP) trades cautiously ahead of Thursday’s Bank of England (BoE) policy announcement, as markets assess the likelihood of a monetary easing move.