// COMPARE

Cable closed at 1.3445 (+0.21%), a modest grind higher tracking broad dollar softness. Deutsche Bank's EUR/GBP rally call dampened sterling enthusiasm; GBP underperformed EUR on the session.

Sterling lacks a domestic catalyst this week, so it's purely a dollar funding play. BoE pricing already discounts cuts; without an inflation shock, GBP is range-bound between dollar sentiment and EUR cross-flow.

UK retail sales data and any BoE speaker hints on August cut timing. Resistance at 1.3480; support 1.3400. EUR/GBP move above 0.8680 would cap GBP/USD regardless of dollar direction.

Silver surged 1.90% to $76.02, outpacing gold's bounce as industrial-metals demand and the geopolitical bid stacked. Opened lower on Iran drone news, then ripped on the strike headlines.

Silver is leveraged gold plus an AI capex play — solar and data-center wiring demand sit underneath the macro trade. When gold runs and risk is on simultaneously, silver outperforms both.

$77 is the technical breakout level — clean break opens $80. PCE Friday matters less than gold for silver; watch copper and AI capex headlines instead.