- Cable retreats from monthly highs, turns negative for the day.
- US dollar rises across the board supported by US economic data.
The GBP/USD dropped to 1.4153 amid a rally of the US dollar across the board. Cable retreated sharply after hitting at 1.4233 the highest level since February.
An impressive reading of the preliminary IHS Markit for May of the service sector boosted the dollar. Also a rebound in US yields contributed to the rally of the greenback.
The DXY is up 0.25% on Friday after spending most of the day in negative territory. It bottomed at 89.65, the lowest level since March before turning to the upside. The 10-year yield rose from the lowest in a week at 1.61% to 1.63%.
The GBP/USD pulled back and EUR/GBP rebounded back above 0.8600. The pound weakened during the American session. Versus the US dollar, it is trading at 1.4165, down for the day but still up 75 pips from the level it had a week ago. It is on its way to the highest weekly close since 2018.
|Today last price||1.4175|
|Today Daily Change||-0.0016|
|Today Daily Change %||-0.11|
|Today daily open||1.4191|
|Previous Daily High||1.4193|
|Previous Daily Low||1.4101|
|Previous Weekly High||1.4166|
|Previous Weekly Low||1.3982|
|Previous Monthly High||1.4009|
|Previous Monthly Low||1.3669|
|Daily Fibonacci 38.2%||1.4158|
|Daily Fibonacci 61.8%||1.4136|
|Daily Pivot Point S1||1.413|
|Daily Pivot Point S2||1.407|
|Daily Pivot Point S3||1.4039|
|Daily Pivot Point R1||1.4222|
|Daily Pivot Point R2||1.4253|
|Daily Pivot Point R3||1.4313|
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