Silver prices surged more than 4% on Wednesday, reaching around $62.30, driven by weaker-than-expected US labor data and declining energy-driven inflation pressures. This combination has led traders to lower their expectations for further Federal Reserve interest rate hikes, according to FX Street.
The euro also edged higher against the US dollar, trading near its highest level in a month. The softer US labor market data and easing inflation concerns have weighed on the US dollar while supporting the euro, FX Street reported.
For Japanese investors, these movements highlight the ongoing sensitivity of precious metals and currency markets to US economic indicators and Fed policy signals, which remain key drivers in the global FX and commodities landscape.