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GBP/USD Faces More Pressure as UK Political Risks Cloud Outlook

Wednesday’s session wasn’t as quiet as yesterday – Between a major Miss in which initially sent markets lower (-33K vs 95K expected) and another turmoil in UK Politics sending GBP/USD down close to 1%, markets got some action.

The was leading in the pre-morning session as the private employment report released this morning at 8:15 sent markets lower, however sentiment got lifted from the announcements of more US Trade deals – Since, the took back the lead on the session and left the US 30 lagging behind.

By the way, the just hit new All-time highs towards the end of the session.

The is the leader of the day, up 1.40% on the session.

Commodities and Cryptocurrencies also appreciated quite well from the most recent trade deal headlines, with all energy commodities up above 1%, with up close to 3%.

Metals also rallied quite strongly with and continuing their uptrends along with Cryptocurrencies doing some heavy lifting – just breached the $110,000 mark again for the first time since June 11.

Daily Cross-Asset Performance

Cross-Asset Daily Performance, July 2, 2025 – Source: TradingView

really has been volatile this week compared to other assets, the second biggest crypto is back on top of the daily performance, with the Bond being the lagger of the day, suffering from the upbeat sentiment.

A Picture of Performance for Major CurrenciesPerformance Of Major Currencies

Source: OANDA Labs

The suffered from the latest mess-up from the UK House of Commons that sent gilts tumbling in another UK Bond market turmoil.

On the other hand, recovered from yesterday’s selling flows as Canadian traders came back racing from their National Day break, as it finishes the highest of all majors – is down 1.24% on the day with these flows.

A Look at Economic Data Economic Calendar

MarketPulse Economic Calendar

Today’s NA Session calendar is packed, with the July release at 8:30 AM and the market-moving .

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