- The US dollar gains momentum during the US session as US yields rise.
- Earnings from last week’s cable cuts are further away from monthly highs.
The pair GBP/USD It failed to stay above 1.3500 and fell to 1.3428, the lowest level since last Wednesday. The pound remains near the daily low, under pressure amid a stronger US dollar across the board.
After a three-day rally, the GBP / USD pair is falling sharply, cutting back last week’s gains. From the highest level in nearly two months, hitting 1.3551 last week, the pound is now under pressure, again below the 55-day simple moving average. The 1.3400 / 05 zone is the next support to consider.
The GBP / USD slide came amid a rally in the US dollar. The dollar benefited from higher returns in the US The decade rose to 1.60%, the highest level since November 26, the 30-year stood at 1.97%, the highest level in a month. The yield on 2-year Treasuries reached the highest level since March 2020.
Economic data released in the US showed no surprises. Markit’s final manufacturing PMI came in at 57.7, down from the flash reading of 57.8. The ADP employment report will be released on Wednesday and the non-farm payroll on Friday.
Technical levels
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