Gold (XAU/USD) stabilizes on Thursday after a sharp reversal following the Federal Reserve’s (Fed) interest rate decision.
US Dollar (USD) bounced from fresh cyclical lows, Treasury yields found footing after yesterday’s swings, and US equity futures are up. Near-term, USD can retrace more of this week’s losses before settling into its August range as yield spreads show little scope to move further against USD.
The USD/JPY pair recovers some lost ground around 146.80 during the early Asian session on Thursday. The US Dollar (USD) bounces off the six-week lows near the 146.00 neighborhood after the Federal Reserve (Fed) cut interest rates by a quarter of a percentage point.