The US Dollar suffered heavy losses on Friday, not only breaking through the strong support cluster, but also breaking through the third one at 122.19 and under 122.00 major level.
The Cable's volatility to the upside was limited by the Bollinger band and weekly R1 last Friday, ultimately nullifying the rally.
EUR/USD climbed from 1.1020 to 1.15 in just slightly more than three trading days, reflecting Fed dovishness and dropping equity markets worldwide.
The Kiwi extended its gains against the Greenback yesterday, crossing the 0.66 major level.
The US Dollar weakened against the Loonie yesterday, as hopes of the Fed raising interest rates as early as September were dampened.
The Aussie edged lower yesterday, breaching the immediate support cluster around 0.7345.
The EUR/JPY cross overperformed on Thursday, as the monthly R1 failed to prevent the rally.
Gold soared to its highest level in five weeks, as Fed minutes forced the Dollar to collapse and restored the metal's safe-haven status.
The Greenback sustained serious losses after concerns about the Fed raising interest rates grew.
Even though the Cable experienced substantial volatility to the downside, the pair managed to regain the bullish momentum after reaching the support cluster around 1.56.
Bearish US Dollar sentiment after dovish FOMC meeting minutes continued have strong impact on the EUR/USD currency pair on Thursday and in the early trading on Friday.
Even though the 0.66 major level kept the NZD/USD from advancing, the pair still managed to edge closer to it, rather than falling down.
In spite of the dovish Meeting Minutes, the US Dollar still managed to surge against the Loonie.
The Australian Dollar outperformed its US counterpart, after the September interest rate hike became unviable.
The European currency managed to rebound yesterday; however, the weekly PP failed to limit the Euro's gains.
Disappointing news surrounding US inflation and Fed meeting minutes provided the bullion with fresh growth momentum.
The USD/JPY currency pair reached the tough support cluster at 123.65, which pushed the Greenback slightly back up.
The GBP/USD tested the 1.57 level, but was still unable to fully breach the resistance area just under the major level.
Bullish impetus created by weaker US CPI data and quite dovish Fed meeting minutes sent the most traded cross above 1.11 on Wednesday.
The NZD/USD currency pair reached the immediate support at 0.6552, but instantly bounced back, adding 11 pips ultimately.
The Greenback bounced off the 1.31 major level and sustained some losses against its Canadian counterpart.
The Aussie brought no surprises in its performance on Tuesday, as it weakened against the US Dollar.
On Tuesday, the EUR/JPY currency pair behaved in accordance with the forecast, as the Euro weakened against the Japanese Yen and settled at the target level of 137.20.
Growth issues in China are positively weighing on the price of gold.