The US Dollar (USD) retreated further on Thursday, clinching multi-day lows as investors continued to assess prospects for rate cuts by the Fed and the impact on the economy of a protracted US shutdown.
The Dow Jones Industrial Average (DJIA) grappled in the middle of a deepening consolidation zone on Thursday, churning on both sides of 46,200 and declining around 200 points on the day.
The Pound Sterling (GBP) rises to near 1.3440 against the US Dollar (USD) after the release of the UK GDP data. The strength in the GBP/USD pair is contributed by the UK data release and weakness in the US Dollar.
Gold (XAU/USD) extends its relentless rally on Thursday, scaling fresh all-time highs as safe haven demand remains firmly in play amid mounting geopolitical and economic uncertainty. At the time of writing, XAU/USD is trading around $4,290, up nearly 11% so far this month and over 60% year to date.