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GBP/USD Skids through $1.25 As Dollar Rallies
GBP/USD has dropped to fresh session lows through the key psychological level of $1.25 and within a breath of year to date lows. This is the 4th straight session that the GBP has fallen against the strengthening USD. The Dollar is being supported by a strong recovery in US Treasury yields. Recent moves by central banks, particularly the Federal Reserve of New York and BoJ, in addition to hopes of a more robust policy response has lifted risk sentiment, hitting demand for safe havens such as US Treasuries, boosting yields and the dollar. This sharp recovery in sentiment is also evident in the US stock market. The ... (full story)
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