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EUR/USD lost its traction and declined toward 1.0850 after rising above 1.0930 in the early European session on Tuesday. The US Dollar stays resilient against its rivals amid cautious market mood and weighs on the pair. Investors keep a close eye on comments from Fed officials.
GBP/USD rose to 1.2800 in the early European session on Tuesday but failed to preserve its bullish momentum. With the US Dollar finding demand as a safe haven following the bearish opening in Wall Street, the pair declined below 1.2750 and turned negative on the day.
Gold price declined below $1,890 amid renewed US Dollar strength on Tuesday but managed to stage a rebound. The benchmark 10-year US Treasury bond yield retreated toward 4.3% from the multi-year high it set earlier in the day, helping XAU/USD find a foothold.