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Dollar relapse helps GBP/USD rise above 1.23

The further falls in the US dollar have now seen the EUR/USD vault the 1.07 handle and also lifted the GBP/USD back above 1.23 for the first time since October 12. The pound has also just risen above its 50 day moving average (now at 1.2304) The move higher has just extended to 1.2317. That speaks volumes about how the market is right now getting after the UDS currency and not many seem to want to hold it at the moment as US yields take another lurch lower. The GBP/USD is just now trading at 1.2307

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