Daily market news

The GBP/USD pair remains on the defensive around 1.2895, the lowest since August 16 during the early Asian trading hours on Friday.

EUR/GBP has bounced off key support (gray dashed line) at multi-year lows and risen over a percentage point to trade above 0.8400 on Thursday.

The Pound Sterling dropped to a new two-month low of 1.2885 against the Greenback during the session, as UK Gilts rose sharply following the budget release.

The Dollar’s reversal witnessed during Thursday’s Europen session has found support at the 152.00 area.

The US Dollar is on the back foot on Thursday, with investors bracing for the release of October’s PCE Prices Index data.

Eurozone CPI rose 2.0% this month, according to the preliminary estimate released earlier.

The Dollar has extended its pullback against a somewhat stronger Yen on Thursday as the Bank of Japan Governour, Kazuo Ueda hinted at a further interest rate hike “if conditions are met”.

The USD/CAD pair attracts fresh buying on Thursday and for now, seems to have stalled its corrective pullback from the 1.3940 area, or the highest level since August 5 touched the previous day.

The NZD/USD pair extends gains for the second consecutive session, trading near 0.5980 during Thursday's European session.

EUR/USD holds up near 1.0850 in Thursday’s European session following Wednesday’s sharp recovery.