- A stronger US dollar across the board pushes GBP / USD towards 1.3750.
- Minutes from the US FOMC will be released at 18:00 GMT.
The GBP/USD took a decisive turn to the downside in recent hours amid a rally in the US dollar. The pound reached 1.3755, the lowest level since last Friday. It remains close to lows, under pressure, and looking at last week’s low of 1.3730.
The US dollar does it again
As on Tuesday, the US dollar accelerated higher, during the US session, as stocks reversed their trend and despite falling US yields; the same pattern from Tuesday. The 10-year yield fell below 1.30% for the first time since mid-February. The Dow Jones failed to stay in positive territory and is down 0.28%.
The US dollar index reached the 92.80 area, the highest level since April. It is rising for the second day in a row (+ 0.23%) and remains close to the top of the range as traders await the FOMC Minutes from their last meeting.
Market participants will closely follow the minutes of the June meeting, paying particular attention to clues about the gradual reduction of the asset purchase program. Comments from officials about the future trajectory of monetary policy could also trigger sharp moves.
Technical levels
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