Here is what you need to know on Wednesday, July 10: Major currency pairs continue to trade in familiar ranges midweek as investors' search for the next catalyst continues.
Here is what you need to know on Wednesday, July 10: Major currency pairs continue to trade in familiar ranges midweek as investors' search for the next catalyst continues. Later in the day, Federal Reserve Chairman Jerome Powell will deliver the Semi-Annual Monetary Policy Report and respond to questions before the House Financial Services Committee in the second day of his Congressional testimony.
EUR/USD registered small losses on Tuesday but managed to hold comfortably above 1.0800. Early Wednesday, the pair trades marginally higher on the day at around 1.0820. GBP/USD edged lower on Tuesday and ended the day below 1.2800. The pair clings to small gains near this level in the European morning. Following Monday's sharp decline, Gold staged a technical correction and posted small gains on Tuesday.
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