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GBP/USD making some progress now towards 1.3250
Following on from the previous update looking at the price action in the EUR/USD we see the GBP/USD has charted a slightly steadier route higher following the benign US CPI report. That has been helped in part by the EUR/GBP falling back to test that 100 day moving average. That was covered in an update here earlier. Well, it has now tested the support and so far it has held. Meantime, those higher UK yields at the same time as US yield slip is supporting the Pound versus the dollar. So, the GBP/USD has reached 1.3242 a short while ago. The question is; can it continue and build on that? We shall see. The GBP/USD is right now at 1.3232
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