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Pound slips as GBP/USD stays near 1.3200 amid rising US yields
GBP/USD traded just above 1.3200, while the 10-year Treasury auction cleared at 5.30%, the highest yield at a 10-year sale since November 2000.
The pound weakened, with GBP/USD holding just above 1.3200 and making it a tenth consecutive session with a low near the level since September 24, according to FXStreet.
FXStreet attributed the pressure to a dollar gain as US bond yields rose, with the Wednesday 10-year Treasury auction clearing at 5.30%, the highest yield at a 10-year sale since November 2000.
The outlet also pointed to UK rates, saying the UK 30-year gilt yield moved back above 6% for the first time since October 1, and noted that the resulting gilt selloff has so far raised Britain’s borrowing bill faster than it has lowered the pound.
FXStreet further cited Bank of England meeting minutes released Wednesday, which showed all 19 participants backing a rate hike to a 3.75% to 4.00% range, and said GBP/USD barely moved on the release.
Latest closeGBP/USD 1.321 ▼0.2%