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In the short term its actually even better- check out the GBP/USD now
Further to an update here earlier this morning, noting the now positive differential for UK yields above that on offer from the US. That was noted as being around 0.20% in the 10 year bonds yields. Well, upon closer inspection, if we look at the differential in regards to the 2 year yields we can see it is more favourable for the Pound. That means in the shorter term, it is even more favourable to hold the Pound over the dollar. The US 2 year bond yield is right now at 3.60%. The UK 2 year yield is right now at 3.95%. This has clearly helped to support the Pound and lead it to another new 2024 high this morning, just now at 1.3383. As to how much more gas there is in the tank remains to be seen, but as you can see the fundamentals have now swung back in favour of the British currency more than at any time this year. The GBP/USD is currently trading at 1.3375
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