GBP/USD called back some of yesterday’s downside in the Asian and European sessions after the dollar took its foot off the pedal as U.S. Treasury yields eased.
Currently, the UK economy is under pressure from rampant inflation and slowing manufacturing performance. Despite the uptick in yesterdays housing prices, it is likely that this will inevitably slow as the cost of living weighs on consumers. On the other hand, the U.S. economy is flexing its muscle and reinforcing its robustness in the current global climate via improved manufacturing data.
