The GBP/USD remains in a consolidation phase, within the 1.2450-1.2670 area, below the 50-day moving average (DMA) at 1.2676, for the eighth consecutive trading day, as risk-aversion increased demand for the greenback. At 1.2539, the GBP/USD reflects the aforementioned in the New York session. Wall Street’s preparing to finish the day with losses as high US Treasury yields weigh on stocks. Also, underpin the greenback, as the US Dollar Index records gains of 0.18%, sitting at 102.517. In the bond market, the US 10-year T-note rate is rising five basis points, sitting at 3.029%. So, the leading causes of the GBP ... (full story)