Today, the currency pair will be watching a new round of US economic releases, led by weekly unemployment claims and durable goods orders, scheduled for 03:30 PM Egypt time.

The benchmark FTSE has continued to stage a relief rally, closing up over 0.5% in a volatile trading session.

Stocks are looking to extend yesterday's rally, with the Dow Jones Industrial Average, Nasdaq Composite, and S&P 500 Index all headed for their fourth consecutive daily gains.

EUR/GBP retreats on Wednesday after the latest United Kingdom budget revealed by Chancellor Rachel Reeves appears to be well received by investors, which initially sold off the British Pound, trimming its earlier losses.

Gold holds firm on Wednesday as traders lean into a more dovish Fed outlook, with XAU/USD trading around $4,150, easing slightly after climbing to two-week highs near $4,173 earlier in the day.