GBP/USD pokes monthly high around 1.2100 despite UK political jitters, BOE concerns – by anilpanchal7 GBPUSD RiskAppetite Politics BOE Fed
pair’s recent strength takes clues from the US dollar’s weakness while ignoring concerns over UK inflation and politics.
It’s worth noting that the US 10-year Treasury yields, down 3.5 basis points near 2.78%, reversing the previous day’s rebound to 2.81%. Further, Monday’s ChicagoNational Activity Index for June and Dallas Fed Manufacturing Index for July, preceded by Friday’s US S&P Global PMIs for July, also strengthened economic fears surrounding the US.
That said, Bloomberg came out with the findings from a research company Ipsos that said, 45% of adults thought inflation is one of the most troubling issues confronting the nation, the highest level recorded since the survey started in the early 1980s. Elsewhere, Foreign secretary Liz Truss will promise on Tuesday to bring in "tough and decisive action" to limit strike action by trade unions if she becomes Britain's next prime minister, per Reuters.
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