The GBP/USD pair kicks off the new week on a weaker note and reverses a part of Friday's modest recovery from the vicinity of the 1.3200 mark, or over a three-week low.
India and Pakistan have both claimed victory after a ceasefire was declared over the weekend, which brought the two nuclear nations back from the brink of war.
US President Donald Trump announced Sunday that he will sign an executive order that would cut prescription drug and pharmaceutical prices "almost immediately, by 30% to 80%.”
The AUD/USD pair edges higher to around 0.6420 during the early Asian session on Monday. Optimism in US-China trade negotiations in Geneva, Switzerland, boosts the Australian Dollar (USD) against the Greenback.
China's Vice Premier He Lifeng described the weekend talks with US officials as “an important first step” in stabilising bilateral trade relations, per Bloomberg.
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The AUD/NZD pair edged higher on Friday, trading near the 1.0800 zone after the European session, reflecting a steady bullish tone as the market heads into the Asian session.
US President Donald Trump commented on Friday that he will maintain 10% universal tariffs on imports, even after trade agreements are reached with other countries. He added that there would be exemptions if their counterparts offered advantageous trading terms.
The Mexican Peso (MXN) registered modest gains versus the US Dollar (USD) on Friday as market participants turned cautious ahead of the US-China talks in Switzerland.
Gold price climbed over 1% on Friday as the US Dollar (USD) retreated after posting two days of gains, weighed by lower US yields. A deterioration in risk appetite boosted Bullion prices, which are being underpinned by geopolitical concerns. At the time of writing, XAU/USD trades at $3,338.
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