GBP/USD has gained support from increased industrial activity.

Create at 9 months ago (Jan 15, 2024 11:17)

Data from the Office for National Statistics (ONS) revealed that industrial activity in the United Kingdom showed an upward adjustment on Friday, with overall industrial production remaining in line with expectations and trending upwards in the coming months.


The U.S. Dollar Index (DXY) has adjusted downward due to a decline in the yields of U.S. government bonds. The yields on 2-year and 10-year U.S. Treasury bonds have both decreased to 4.14% and 3.94%, respectively. Profit-taking associated with the Federal Reserve's interest rate reduction has exerted pressure on U.S. yields in recent times.


Furthermore, a significant drop in the Producer Price Index (PPI) data reported on Friday may further soften the value of the U.S. Dollar. According to the U.S. Bureau of Labor Statistics, the Producer Price Index (PPI) for December stands at 1.0%, with Core PPI at 1.8% on a year-over-year basis.

 

Source: Fxstreet
 
GBP/USD news today
 
Overview
Today last price 1.2756
Today Daily Change 0.0011
Today Daily Change % 0.09
Today daily open 1.2745
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