Federal Reserve (Fed) Bank of Atlanta President Raphael Bostic said that inflation has been to high for too long, adding that the Fed can’t lose sight of inflationary concerns at an interview with Bloomberg on Friday.
GBP/USD rebounds after two days of gains, trading around 1.3560 during the Asian hours on Friday. The technical analysis of the daily chart points to a potential bearish reversal as the pair is positioned near the lower boundary of an ascending channel pattern.
Gold price (XAU/USD) tumbles to around $4,680 during the early Asian session on Friday. The precious metal extends the decline as traders cover losses from equities and adjust positions. The preliminary reading of the Michigan Consumer Sentiment Index report for February is due later on Friday.