The cable tumbled to fresh yearly lows after the UK re-imposed fresh restrictions to curb the spread of omicron covid variant. The pair also feels the pull of gravity as the omicron concerns have pushed back the Bank of England rate hike expectations.
The strong interest around the Japanese yen puts EURJPY under extra pressure. The risk aversion mood irrupted into the markets in response to the resurgence of coronavirus concerns.
The bright metal is dropping because of firmer US Treasury yields. Also weighing on the market sentiment and underpinning the US bond coupons, as well as testing the gold bulls, are the chatters over the US-China and Fed rate hikes.
NOTE:
BMS - Break in Market Structure
LG - Liquidity grab
OANDA:XAUUSD
