EUR/GBP grinds its way above 0.8600 as GBP/USD slips closer to 1.25

The rebound in the dollar now this afternoon has come as US yields continue to push higher and that has seen the USD/JPY rise above 145.80 just now. That move is adding further pressure onto the EUR/USD and the GBP/USD, but it is the GBP/USD that is suffering the most right now in relative terms, as it edges towards 1.25 and that has helped to propel the EUR/GBP above 0.8600 for the first time in 8 trading sessions. I said earlier this morning, that such a move seemed likely after it had repeatedly failed to make a move below 0.8550. The EUR/GBP is currently trading at 0.8605