GBP/USD 40 pips from the lows
Is the playbook here that we got a final flush of risk trades at the US open and now the dip buyers are back? US equities are higher and Treasury yields have bounced. We’re seeing the same in FX with cable showing a very high correlation to risk trades, even more than the commodity currencies.
The turn in markets started when the 10-year stabilized so all eyes are going to remain there. Last at 1.1557% from a low of 1.13%.