GBP/USD edges higher as UK yields rise

Right now, as this update is bring typed, the UK 10 year yield is above that of the US. The UK yield stands at 4.63% and the US equivalent is at 4.61%. This move higher in UK yields does seem to have helped the Pound to avoid a fall below 1.25 on Friday. The low seen was set at 1.2505. On Thursday, when the UK markets were closed, the GBP/USD based out at 1.2501. So, clearly there has been some buying orders in place just ahead of that 1.2500 handle. The Pound closed in the US on Friday at 1.2578. However, since rejecting a move below 1.25 on Friday, the Pound has yet to reclaim the 1.26 handle again, despite that shift higher in UK bond (Gilt) yields. That is not to say it will not do so at some point today. We shall have to see on that. The previous rebound high from the 1.2501 low was set at 1.2614 and that is a level to note today. Beyond that lies the 21 day moving average, currently in place at 1.2641. The range seen so far today has been covered by 1.2560 to 1.2589. It is currently trading on session highs