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British pound extends losses versus dollar as US yields lift USD

GBP/USD was last near 1.3213, hitting a lowest level since June 29 amid higher US 10-year Treasury yields and a stronger US Dollar Index.

Reported · Written up by our desk · Major Pairs

The British pound extended its slide against the US dollar for a fourth straight session, with GBP/USD down 0.21% on Thursday to around 1.3213.

FXStreet said the move was driven by a US Dollar rally as the US 10-year Treasury yield rose 5 basis points to 5.162%, while the US Dollar Index climbed 0.19% to 101.30.

The same report linked risk sentiment to global yield increases and noted that investors are pricing additional tightening by major central banks, alongside oil prices jumping more than 4% on renewed concerns around the Strait of Hormuz.

In the background, FXStreet cited hawkish Fed messaging from officials including New York Fed president John Williams, Philadelphia Fed Anna Paulson, and Cleveland Fed Beth Hammack, while the Bank of England held rates and signaled potential upside inflation pressure in coming data.

Latest closeGBP/USD 1.322 ▼0.9%|Dollar index 101.29 ▲0.2%

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