The EUR/USD and GBP/USD currency pairs are seeing a rally, while the USD/JPY pair is faltering following rate cuts by the Bank of England (BoE) and the Federal Reserve (Fed). The BoE and Fed’s decision to cut interest rates has impacted the forex market, with traders favoring the Euro and Pound over the US Dollar. As a result, the EUR/USD and GBP/USD pairs are gaining strength, while the USD/JPY pair is struggling. Traders are closely monitoring these developments to determine the best trading opportunities.
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