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Dollar off best levels ahead of the US stock market opening- GBP/USD outperforms
Whilst noting the slight slip in US yields just now, this has not been lost on the dollar and it off its best levels of the day heading into the US stock market opening. Earlier the EUR/USD fell to a low at 1.0710. It is now trading back above 1.0730 as the USD/JPY dips back below 161.50. The Pound has fared the best in pips terms over the past couple of hours. Earlier the GBP/USD fell to 1.2616. It has now rebounded back above 1.2665 and that has delivered gains for the Pound versus the Euro and also kept the GBP/JPY near 15 year highs (204.59) , despite the USD/JPY edging lower. The Pound seems to be attracting a degree of haven flow right now, as the outcome of the UK election (whatever it is) is deemed to be more benign than anything likely to unfold across the Channel. The GBP/USD is currently trading at 1.2669
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