GBP/USD remains cautious near the 1.3700 mark. US Treasury yields trade higher which supports USD. Negative equities point towards risk-off sentiment among investors. The GBP/USD pair is trading on the back foot below 1.3700 in the Asian trading session. The pair expects to continue with the previous week’s negative tone where it fell from the weekly highs of 1.3915 and touched the weekly lows of 1.3671. At the time of writing, GBP/USD is trading at 1.3689, down 0.13% on the day. The renewed strength in the US Dollar Index (DXY) is the driving force behind the pair’s submissive performance. The US Treasury yields witness some pullback and are trading near 1.66%, offering a boost to the US dollar. The Federal Reserve Chair Jerome Powell early Monday said that the US economy was poised for a stronger recovery COVID-19 remains a threat. The economy is at an “inflection point”, with accelerated output and job growth owing to the government’s support measures and a rapid vaccination program. The US 10-year rates rose on the anticipated inflation and, thus, helping the US dollar to gain as an attractive investment. On the other hand, the UK economy showed some signs of recovery but the slower vaccination pace, after a good start, could hamper the path of turnaround. The growth differentials between the UK and the US keep the pound on the defensive. GBP/USD technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. FXStreet News share Read Next USD/CAD steadily climbs back to mid-1.2500s amid modest USD strength FX Street 6 months GBP/USD remains cautious near the 1.3700 mark. US Treasury yields trade higher which supports USD. Negative equities point towards risk-off sentiment among investors. The GBP/USD pair is trading on the back foot below 1.3700 in the Asian trading session. The pair expects to continue with the previous week's negative tone where it fell from the weekly highs of 1.3915 and touched the weekly lows of 1.3671. At the time of writing, GBP/USD is trading at 1.3689, down 0.13% on the day. The renewed strength in the US Dollar Index (DXY) is the driving force behind the pair's submissive performance. The… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
