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The GBP/USD pair comes under heavy selling pressure following the previous day's two-way directionless price moves and drops to the 1.2665 region during the Asian session on Wednesday.
Hungarian central bank cut policy rate by 100 basis points so that key interest rate is at 9.0% In Croatia, 4Q23 GDP accelerated to 4.3% y/y, marking the strongest growth rate during 2023, and wrapping FY23 performance at 2.8%.
Following a drop to multi-session lows near 1.0800, EUR/USD managed to stage a marked comeback, almost fully fading that initial knee-jerk and regaining the 1.0840 region on the back of the loss of upside traction in the US Dollar (USD) on Wednesday.
The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.1057 as compared to previous day's fix of 7.1080 and 7.1945 Reuters estimates.
The US Dollar (USD) trades with a mild negative bias during the Asian session on Tuesday and remains well within the striking distance of its lowest level since February 2 touched last week.