Bullish
GBP/USD rises to $1.3661, highest since February, as US Treasury buys back bonds
The British pound strengthened against the US dollar, reaching a six-month high of $1.3661, following the US Treasury's announcement to double the size of buybacks of longer-dated Treasury securities. This move led to a significant drop in long-term yields, weakening the dollar.
Key points
- GBP/USD hits six-month high at $1.3661 amid US Treasury bond buybacks.
- US dollar weakens as Treasury's bond buybacks push 30-year yield lower.
- Market awaits upcoming global preliminary EMI data for further direction.
Sources
AI-generated from public news sources. Not financial advice.
