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The EUR/USD pair breaks out through a multi-day-old trading range and touches a fresh high since February 2022, around the 1.1485 area during the Asian session on Monday.

The chart of gold tells the story. It’s a slow-motion loss of confidence from Inauguration Day until Liberation Day. Afterwards, it’s a fast-motion loss of confidence.

There was some selling on Friday, perhaps in the hopes of a weekend trade deal with Japan, but there were dip buyers in a $50 fall on Friday and some recovery then followed by a $41 rally today that’s being bid aggressively at the moment.

Last at $3368.

This article was written by Adam Button at www.forexlive.com.

The Gold Price (XAU/USD) drifts higher to near $3,350 during the early Asian session on Monday after facing some profit-taking due to the long weekend. Uncertainty about US President Donald Trump’s tariff policies and persistent geopolitical tensions continue to underpin the precious metal. 

Welcome to the new week, same as the old week.

The US dollar is struggling once again today, as it’s done for most of this year. Quite simply, the market is offering up a vote of non-confidence in the economic policy mix in Washington. It’s an untested mix of tariffs and antagonism towards allies that’s seemingly made up as it goes.

The US dollar would be far lower if the market believed that these policies would continues for the next four years but there is hope that the White House can get its touted 90 deals in 90 days. That said, there are no deals so far and Japanese officials went home on Friday and downplayed the chance of a deal to the domestic audience.

Already, USD/JPY is down 76 pips to 141.42 and selling has accelerated after breaking last week’s low of 141.60. Eyes are on 140.00 and the the September low of 139.56 now.

This article was written by Adam Button at www.forexlive.com.