Silver Hits $53 — Up 3.4% in 24 Hours 
Sterling faced significant pressure against safe-haven currencies on Monday, particularly dropping 1% against the Japanese yen to 192.71, while managing a slight gain of 0.24% against the dollar to $1.2511.
The movements reflect broader market uncertainty, triggered by a tech sector selloff and concerns over Chinese AI developments.
Market attention is now shifting to a series of critical central bank meetings, with the Federal Reserve and European Central Bank decisions due midweek. The divergence in monetary policy between major central banks is becoming more pronounced, with the Bank of Japan maintaining a hawkish stance while other central banks consider easing measures.
Despite current volatility, Bank of America strategists remain optimistic about sterling’s prospects, suggesting that negative sentiment may be overpriced. The currency markets are also awaiting important inflation data from multiple economies, which could further influence trading patterns in the coming days.
