Skip to main content

Dollar gains towards the 4pm London Fix as US yields rise- check out the GBP/USD

The dollar is edging higher now heading towards the final 4pm London fix of the week. The driver behind this stems from a higher inflation component within the latest Michigan consumer sentiment index and that is pushing US yields higher again. The 2 Year note is now nudging 4.86% and that is adding upside pressure on the dollar. Hence, the GBP/USD is now handing back all the very modest gains it notched up earlier today when it rose on the back of the Q1 UK GDP data. That said, the Pound failed to get above that noted 200 moving average (at 1.2543) and that failure is part of the reason why it is drifting back down now. In fact, the GBP/USD is not far off session lows right now, currently trading at 1.2509 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!