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GBP/USD trades above 1.30 for the first time this year
The slide in the USD/JPY this morning falling now below 157.25 has helped underpin a higher EUR/USD and GBP/USD. That is despite downside seen in the EUR/JPY and GBP/JPY. The Pound is also garnering traction from that stubbornly high UK CPI print, released earlier this morning. At the same time that data is adding downside pressure again on the EUR/GBP and that is also helping to underpin the Pound versus the dollar. So, as this update is being typed, the GBP/USD has now traded at 1.30 for the first time this year. As to how much further it might reach, the next technical level of note would above 1.3100 from here, but that is not to say it will get there. The GBP/USD is currently trading at 1.2999
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