It was a slow-paced session, with broader markets remaining stable. In the last two days, equities have risen slightly, but Treasury yields have also risen. 10-year rates have risen somewhat but remain just below 1.30 % for the time being.
That isn’t giving FX much to work with, but the pound is maintaining a good bounce after halting the technical hemorrhaging against the dollar earlier in the week.
Cable has risen to 1.3760-70 from around 1.3720 earlier in the day, and is now testing its 200-hour moving average as buyers regain control.
Meanwhile, the dollar’s price movement is more mixed, with the euro falling marginally after a small whipsaw on the ECB policy meeting announcement. Before replying, the central bank published updated forward guidance while allowing for an inflation overshoot.
As a result, the euro rose to 1.1813 before dipping to 1.1772 against the dollar.
In other news, oil is continuing its technical bounce from yesterday, with the price reaching a high of $71 on the session and presently sitting just below that mark.
Markets News :
- GBP leads, EUR lags on the day
- European equities higher; S&P 500 futures up 0.1%
- US 10-year yields up 1.1 bps to 1.293%
- Gold down 0.5% to $1,795.21
- WTI up 0.9% to $70.92
- Bitcoin up 0.2% to $31,851