The EUR/JPY pair revisits the seven-month high near 166.60 during European trading hours on Thursday after recovering initial losses.
The Wall Street Journal reported late Wednesday, citing people familiar with the matter, that China is putting a six-month limit on rare-earth export licenses for US automakers and manufacturers.
Gold prices posted modest gains of over 0.22% on Wednesday as the latest inflation report in the United States (US) revealed that prices are cooling. Hence, investors increased their bets that the Federal Reserve (Fed) would resume its easing cycle in September. The XAU/USD trades at $3,327.