GBP/USD moves on an upward trajectory near 1.2270 ahead of UK employment, PMI data

GBP/USD extends its gains for the fourth consecutive day ahead of UK economic figures. Improved risk sentiment contributes support to underpinning the Pound Sterling. UK employment levels are expected to decline in August. US Dollar continues to lose ground on the downbeat US Treasury yields. support due to the correction in the US Dollar , coupled with improved risk sentiment. United Kingdom gears up for the release of Employment and S&P Global PMI data.

The US Dollar Index prolongs its four-day losing streak, potentially influenced by subdued US Treasury yields. The current spot price hovers around 105.40 as of now. The 10-year Treasury yield surged to 5.02%, reaching its highest point since 2007. However, it swiftly reversed course, dropping to 4.85% by the latest update. Atlanta Federal Reserve President Raphael Bostic expressed doubt regarding a US central bank rate cut before the middle of next year.

Source: Digital Coin News (digitalcoinnews.net)

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