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GBP/USD under pressure this morning as US yields edge higher
Yesterday the pound managed to rebound versus a dollar that had run out of steam earlier in the day and that helped the GBP/USD rise towards 1.2750. The GBP/USD later closed in the US at 1.2732. However, it has fallen back towards 1.2700 just now this morning and much of that seems to be driven by a push higher right now in the EUR/GBP. That is on session highs, just under 0.8520. A lack of traction in early European stock market trading, coupled with another lift in US yields is also pushing the dollar back towards the top of the pile right now too. The GBP/USD is currently trading at 1.2703
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