GBPUSDcontinues to trade just above 1.2700 with the pair driven by the rampant greenback. Recent UK data has been benign to mildly Sterling supportive, but GBP cannot match the strong US dollar complex.The US dollar index (DXY) currently trades at a near 14-month high, propped up by US rates – the 2-year UST yields 2.635% - and strong economic data with five additional 0.25% US interest rate hikes expected by the end of 2019. The DXY is currently in overbought territory, which may see a period of consolidation, but the fundamental backdrop remains positive for the dollar.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.