Fed

Political pressure from President Donald Trump could undermine the Fed’s independence, prompting investors to reassess dollar exposure

The Fed reduced rates by 25 basis points on Wednesday and indicated it will steadily lower borrowing costs for the rest of this year

The UAE’ central bank also reduced the base rate applied to its overnight deposit facility by 25 bps to 4.15 per cent, from 4.40 per cent, effective Thursday

The dollar languished near multi-week lows against its rivals, making gold less expensive for holders of other currencies