Sterling continues to slip lower going into the weekend as UK bond yields post fresh multi-week lows.
IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 83.31%, while traders in AUD/JPY are...Global Flash UK PMI report. According to Chris Williamson, chief business economist at S&P Global, the slowdown in part ‘reflects uncertainty around the business environment in the lead up to the general election.’ Stubbornly high UK services sectorUK government bond yields continue to slip lower, fuelled by yesterday’s dovish nudge by the Bank of England.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBP/USD prices may continue to fall.
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