Fed Chair Jerome Powell reiterated his hawkish tone but Wall Street seems to be taking it in stride this time, with the S&P 500 and Nasdaq overturning their three-day losing streak.

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USD/JPY rallied on Thursday, breaking above Fibonacci resistance, and rising to its best levels since November 2022. Meanwhile, AUD/JPY struggled for direction, with the pair only eking out tiny gains.

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EUR/USD has revealed a preference for an upside move as Powell’s persistence around further, more moderate hikes reduce dollar demand

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Gold remains mired despite some less hawkish than expected testimony from the Fed’s Powell

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The Bank of England (BoE) hiked rates by 50 basis points today, by a majority of 7-2, as the central bank reiterates its commitment to driving down inflation

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