- The pound drops from monthly highs, turns negative during the day.
- The US dollar is rising across the board supported by US economic data.
The GBP/USD It fell to 1.4153 amid a rally in the US dollar across the board. The pound fell sharply after touching 1.4233, the highest level since February.
An impressive reading of the preliminary IHS Markit for May from the services sector boosted the dollar. A rebound in US yields also contributed to the dollar’s recovery.
The DXY was up 0.25% on Friday after spending most of the day in negative territory. It bottomed out at 89.65, the lowest level since March before turning higher. The 10-year yield rose from the lowest level in a week at 1.61% to 1.63%.
GBP / USD fell back and EUR / GBP rallied above 0.8600. The pound weakened during the US session. Against the US dollar, it is trading at 1.4165, bearish on the day, but still 75 pips above the level it was a week ago. It is on its way to the highest weekly close since 2018.
Technical levels
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