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GBP/USD pulls back further from above 1.28

Earlier today, as the US dollar came under further pressure versus the European currencies, the Pound benefitted, as the GBP/USD rebounded to a new interim high at 1.2817. That was its best levels since back on March 11. That new high came after the Pound managed to post its first daly close above 1.28 since that same day back in March. However, such as been the slide in the GBP/JPY so far today, the GBP/USD has fallen back to a low at 1.2774 so far. That comes even as US yields slip to session lows, but in truth it is not so much about the dollar right now, as it those Yen cross rate dynamics. That is driving the price action in the GBP/USD this morning. The GBP/USD is currently trading at 1.2775
 

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