Sterling hits three-month lows against the US Dollar as rising Treasury yields and risk-off sentiment drive the GBP/USD pair below the 1.3200 support level ahead of the US market open.
The GBP/USD pair has declined to three-month lows, breaching the 1.3200 support level as market participants shift toward the US dollar. This downward movement is driven by a combination of rising US Treasury yields and a broader risk-off sentiment prevailing in global markets ahead of the US session opening.
The pair is currently in a downtrend, having reached three-month lows below the 1.3200 level.
The weakness is primarily attributed to higher US yields and a risk-off sentiment that is strengthening the US dollar.
The British Pound fell to three-month lows against the US Dollar, trading below the 1.3200 level on Wednesday. The decline follows a broader risk-off sentiment in global markets and a surge in US Treasury yields that continues to bolster the greenback.
The GBP/USD pair is declining due to a combination of rising US Treasury yields and a broader shift toward risk-off sentiment in global financial markets.